Microstrategy just announces the acquisition of new 55,500 Bitcoin (BTC) at a high price, BTC price reacts

Popular Bitcoin bull firm Microstrategy announced the purchase of 55,000 BTC at the trade price of $97,862/BTC.

Microstrategy is a popular business intelligence firm, which trades on the Nasdaq exchange under index $MSTR. Since 2020, this company has been continuously buying Bitcoin as a reserve fund. Because of bull Bitcoin buy activities, the trade price of $MSTR also surged rapidly in the last 4 years.

On 25 Nov 2024, Michael Saylor, the chairman & former CEO of MicroStrategy, informed the Bitcoin community about the company’s latest Bitcoin buy amount.

He confirmed that the company purchased a total of 55,000 BTC at the trade price of $97,862. So now this company is holding a total of 386,700 BTC. That means the company spent nearly $5.4 billion to buy this big stash of Bitcoin this week.

So far, in total, Microstrategy spent an average of $57,761/BTC to acquire 386,700 Bitcoin. With this holding company is in net unrealised gain of $15.71 billion.

Microstrategy ($MSTR) stock price action

However, the stock market is ready to open for trading, but already many experts claim that the trade price of $MSTR will show a significant jump today. The current trade price of $MSTR is $421.88. Notably the trade price of MicroStrategy stock surged 22% in the last 7 days.

If the bull run in the Bitcoin market continues then the trade price of $MSTR will show continuous increment. Bitcoin bull sentiments The current trade price of Bitcoin is $97,720 & this price level is 0.42% high over the last 24 hours period.

The latest report noted that the Bitcoin spot ETF issuers purchased a total of 34,869 BTC in the last 7 days, which is 11 times more than the total amount of Bitcoin mined in the same time period. This means that the consumption of Bitcoin by investors is 11 times more than the production of new Bitcoin.

Read also: South Korea decides not to adopt Bitcoin ($BTC) as National Bitcoin Reserve