MicroStrategy has expanded its massive bitcoin holdings with the purchase of 21,550 tokens valued at $2.1 billion, bringing its total BTC holdings to 423,650, worth nearly $42 billion. This significant acquisition comes as U.S. spot bitcoin ETFs saw massive inflows and Riot Platforms announced a $500 million convertible note offering to purchase BTC.
MicroStrategy Makes Another Large Bitcoin Purchase, Buying 21,550 BTC for $2.1B
MicroStrategy, a bitcoin development company, added to its massive bitcoin holdings with the purchase of another 21,550 tokens.
The latest buying spree brought the firm’s BTC holdings to 423,650, equivalent to nearly $42 billion worth of bitcoin. Led by Executive Chairman Michael Saylor, MicroStrategy now holds more than 2% of the 21 million bitcoin that can ever exist.
U.S. spot bitcoin ETFs saw massive inflows raking in $2.73 billion in fresh funds last week, according to data compiled by Farside Investors. This news comes alongside significant U.S. investor activity bidding spot prices higher, contributing to bitcoin’s price action as it crossed above $100,000 last week for the first time in its history.
Riot Platforms (RIOT), a bitcoin mining firm, announced a $500 million convertible note offering to be used primarily to purchase BTC.
