MicroStrategy Amasses Nearly 190,000 Bitcoin, Valued At Over $8 Billion

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Michael Saylor’s MicroStrategy now owns a staggering 190,000 bitcoins, worth a total of over $8 billion. The software company has added 14,620 new tokens, worth $616 million, to its stockpile in the past month, and its stock has surged 350% year to date.

This latest episode of MicroStrategy’s incredible bitcoin buying spree has pushed the company’s bitcoin holdings to a new high. From November 30th to December 26th, the enterprise software company spent $616 million to purchase 14,620 new tokens, bringing its total to 189,150 bitcoins. The average price of the latest purchase was $42,110 per token, compared to the average price of the entire stockpile of $31,168.

MicroStrategy’s CEO Michael Saylor is a passionate bitcoin bull who has been buying the currency in large quantities since February 2021. He has referred to bitcoin as “digital gold”, and made it his mission to acquire as much of it as he possibly can.

His mission has been highly successful, as bitcoin has gained 158% this year and MicroStrategy’s stock has skyrocketed by an impressive 352%. Shares jumped 9% on Wednesday, putting MicroStrategy’s market cap at $9 billion, while bitcoin rallied 2% to $43,060.

Wall Street remains bullish on bitcoin, with Standard Chartered predicting that it could more than double to $100,000 by late 2021. Analysts at Bernstein have also predicted that it could hit $150,000 by mid-2025. Other crypto stocks like Coinbase and Marathon Digital have also seen triple-digit rallies this year.

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