JUST IN: MicroStrategy Acquires 11,931 BTC for $786 Million Investment

MicroStrategy, a global leader in business intelligence, has significantly increased its Bitcoin portfolio, purchasing an additional 11,931 BTC. The acquisition, valued at approximately $786 million, was financed through convertible notes and excess cash, with each Bitcoin costing around $65,883.

This latest investment boosts MicroStrategy’s total Bitcoin holdings to 226,331 BTC, acquired at an average price of $36,798 per Bitcoin. The company’s strategic accumulation of Bitcoin underscores its confidence in the cryptocurrency as a viable and valuable asset in the long term.

As of June 20, 2024, MicroStrategy’s substantial crypto assets, valued at around $8.33 billion, highlight the growing trend of major corporations integrating digital currencies into their financial strategies, further cementing the legitimacy and potential of cryptocurrencies in the global market.

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