- MicroStrategy increased its Bitcoin holdings to around $6.5 billion.
- BTC’s price increased beyond $38,000, contrary to market expectations.
- The coin value can hit $38,500 if the buying momentum continues.
Software company MicroStrategy has purchased another round of Bitcoin (BTC) valued at around $600 million, according to its chairman, Michael Saylor. Saylor made this known in a post on X (formerly Twitter) on November 30.
Another BTC purchase for Saylor
According to Saylor, MicroStrategy purchased 16,130 BTC between November 1 and 29 at an average price of $36,785. He also noted that the recent procurement means the firm now holds about $6.50 billion worth of Bitcoin.
MicroStrategy has acquired an additional 16,130 BTC for ~$593.3 million at an average price of $36,785 per #bitcoin. As of 11/29/23, @MicroStrategy now hodls 174,530 $BTC acquired for ~$5.28 billion at an average price of $30,252 per bitcoin. $MSTR https://t.co/hSEZyzGBsr— Michael Saylor (@saylor) November 30, 2023
MicroStrategy embraced the Bitcoin strategy in 2020, starting with a 21,454 BTC purchase in the same year. The firm has also come under intense criticism as its port…
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