In an announcement earlier today, business intelligence firm MicroStrategy revealed its continued Bitcoin (BTC) acquisition streak, purchasing 10,107 BTC for $1.1 billion. This latest purchase brings MicroStrategy’s total Bitcoin holdings to an impressive 471,107 BTC.

MicroStrategy Not Fazed By Crypto Market Drawdown

Despite the total crypto market cap declining from $3.75 trillion on January 25 to $3.55 trillion at the time of writing, Michael Saylor’s MicroStrategy remains steadfast in its quest to accumulate as much BTC as possible.

The company’s latest acquisition of 10,107 BTC cost $1.1 billion at an average price of $105,596 per Bitcoin. With this addition, MicroStrategy now holds a total of 471,107 BTC, valued at approximately $30.4 billion. The average acquisition cost stands at $64,511 per Bitcoin.

In an X post, Saylor remarked that the year-to-date (YTD) BTC Yield currently stands at 2.90%. For the uninitiated, BTC Yield is a key performance indicator used to gauge the performance and strategic value of BTC as a corporate treasury asset.

Notably, Peter Schiff, a prominent financial commentator and stockbroker, responded to Saylor’s post, pointing out that MicroStrategy’s average Bitcoin purchase price has steadily increased. He cautioned that it might not be long before the company’s entire Bitcoin position could face a loss.

In addition to its latest Bitcoin purchase, MicroStrategy has Go to Source to See Full Article
Author: Ash Tiwari