Bitcoin price has shattered its previous all-time high, reaching a peak of over $72,000 as MicroStrategy announced the purchase of an additional 12,000 BTC for its holdings. This brings the company’s total Bitcoin holdings to a whopping 205,000 BTC, acquired at an average price of $33,706 per BTC. The purchase was made using proceeds from convertible notes and excess cash.
MicroStrategy’s CEO, Michael Saylor, also revealed that the company secured an $800 million loan for a six-year period, which was used to fund the latest Bitcoin purchase. This news has caused Bitcoin’s market cap to reach $1.42 trillion, surpassing Silver as the world’s 8th largest asset.
In addition to MicroStrategy’s purchase, the ongoing frenzy around the launch of a Bitcoin ETF has also contributed to the rising price of the cryptocurrency. With these factors in play, it is possible that Bitcoin’s price could continue to climb.
Despite some recent challenges in the cryptocurrency market, such as the collapse of LUNA and the bankruptcy of 3AC and Genesis-Gemini Earn, Bitcoin has proven its resilience by reaching new all-time highs. Its market cap has even surpassed that of Silver.
As Bitcoin’s price continues to soar, many are speculating on where it could go next. Messari founder and CEO, Ryan Selkis, shared his thoughts on the matter, stating that “Bitcoin is at all-time highs” and urging people to stop selling things that never die.
Overall, it is an exciting time for Bitcoin as it continues to break records and solidify its position as a top asset in the world.
