Russia and India abandon the use of the U.S. dollar in an attempt to shake the U.S. dollar’s hegemony
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MicroStrategy Surpasses BlackRock: Acquires 12,000 BTC for $72,000; What's the Next Plan?
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MicroStrategy's Bold Move: Acquires 12,000 Bitcoin Worth $821.7 Million under CEO Michael Saylor's Leadership
Under CEO Michael Saylor's leadership, MicroStrategy has executed a significant move in the cryptocurrency market, acquiring an additional 12,000 Bitcoin for approximately $821.7 million. This purchase, funded by convertible notes and excess cash, was made at an average price of $68,477 per Bitcoin.
MicroStrategy Surpasses BlackRock with 205,000 BTC Holdings Amid Bitcoin's Surge to $72,226
MicroStrategy's total Bitcoin holdings now amount to 205,000 BTC, acquired at an average price of $33,706 per BTC, totaling approximately $6.91 billion as of March 10, 2024. This surpasses financial giant BlackRock's holdings, which stand at 195,985.31 Bitcoins through its IBIT iShares Bitcoin Trust.
The timing of MicroStrategy's acquisition coincides with Bitcoin's surge to a new all-time high of $72,226 per coin. This milestone reflects the increasing acceptance and adoption of Bitcoin as a legitimate asset class.
BTC to USD by CoinMarketCap
MicroStrategy's Bitcoin Accumulation Strategy: Pioneering Corporate Adoption Amid Rising Institutional Interest
MicroStrategy's decision to accumulate Bitcoin as a treasury reserve asset underscores its strategic investment management approach. This reaffirms the company's commitment to Bitcoin as a long-term investment strategy, establishing it as a pioneer in corporate cryptocurrency adoption.
As Bitcoin's value continues to rise, MicroStrategy's financial decisions are attracting attention from both traditional and digital asset markets. The company's proactive stance in embracing Bitcoin reflects a broader trend of institutional interest in cryptocurrency as a viable investment option.
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