{"id":27473,"date":"2024-03-12T00:43:39","date_gmt":"2024-03-12T00:43:39","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/microstrategy-makes-a-822-million-bitcoin-purchase-as-bull-run-takes-off\/"},"modified":"2024-03-12T00:43:39","modified_gmt":"2024-03-12T00:43:39","slug":"microstrategy-makes-a-822-million-bitcoin-purchase-as-bull-run-takes-off","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/microstrategy-makes-a-822-million-bitcoin-purchase-as-bull-run-takes-off\/","title":{"rendered":"MicroStrategy Makes a $822 Million Bitcoin Purchase as Bull Run Takes Off"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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MicroStrategy has expanded its Bitcoin holdings, purchasing an additional 12,000 BTC for nearly $822 million, at a time when Bitcoin\u2019s value was just under $69,000. This move increased the company\u2019s total Bitcoin assets to over 200,000 BTC, solidifying its position as a significant investor in the cryptocurrency space. The acquisition was funded by a successful $800 million fundraising effort, leveraging a private offering of senior unsecured convertible notes with a 0.625% annual interest rate. This initiative exceeded the initial goal to raise $600 million, as stated by Michael Saylor, the company\u2019s founder and executive chairman, aiming to augment its Bitcoin reserves.<\/p>\n

MicroStrategy\u2019s strategic investment in Bitcoin has proven lucrative, with the company\u2019s holdings purchased at an average price of $33,706 per Bitcoin. With the current market price exceeding $72,000 per Bitcoin, the company\u2019s investment has effectively doubled in value. This notable increase underscores Bitcoin\u2019s potential as a high-yield asset, particularly when compared to traditional investments.<\/p>\n

Michael Saylor, speaking on CNBC, highlighted Bitcoin\u2019s advantages over gold, suggesting Bitcoin is poised to outperform gold as an asset class. According to Saylor, Bitcoin offers all the benefits of gold without its limitations, such as the logistical challenge of physical transportation. He said:<\/p>\n

\u201cBitcoin is certainly at least digital gold, it\u2019s going to eat gold.<\/em><\/p>\n

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\u201cIt\u2019s got all of the great attributes of gold and it\u2019s got none of the defects of gold.\u201d<\/em><\/p>\n

Furthermore, the notorious Bitcoin bull predicts Bitcoin will not only divert investments from traditional risk assets like the SPDR S&P 500 ETF but will also gain inclusion in other funds, akin to BlackRock\u2019s plans to incorporate spot BTC ETFs into its Global Allocation Fund.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) MicroStrategy has expanded its Bitcoin holdings, purchasing an additional 12,000 BTC for nearly $822 million, at a time when Bitcoin\u2019s value was just under $69,000. This move increased the company\u2019s total Bitcoin assets to over 200,000 BTC, solidifying its position as a significant investor in the […]<\/p>\n","protected":false},"author":5,"featured_media":27474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/27473"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=27473"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/27473\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/27474"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=27473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=27473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=27473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}