On Monday, business intelligence firm MicroStrategy announced the purchase of additional Bitcoin (BTC) as the largest cryptocurrency in the market reached a new all-time high of $82,500 with increased inflows into various areas of the ecosystem over the past week.
MicroStrategy now holds nearly $23 billion in Bitcoin
one in social media post By Bitcoin bull Michael Saylor, the company announced that it has acquired approximately 27,200 BTC for approximately $2.03 billion. The transaction is one of the largest BTC purchases ever by a corporate entity, but is in line with the company’s strategy to integrate crypto into its financial framework.
according to a statement Released on Monday, these acquisitions took place between October 31 and November 10 using the proceeds from recent stock sales.
With this latest purchase, MicroStrategy now holds approximately $23 billion in Bitcoin, totaling approximately 279,420 BTC, with an average purchase price of approximately $42,692 per Bitcoin.
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Michael Saylor also revealed that the company’s MSTR treasury operations since the beginning of November have resulted in a BTC yield of 7.3%, representing a net gain for shareholders of approximately 18,410 Bitcoin.
However, the strategy has also had a notable impact on MicroStrategy’s stock MSTR, which jumped 11% on Monday as soon as the announcement was made and is currently trading at about $299 per share, up from $270 last week.
post election bull run
The current rally in Bitcoin price also coincides with a notable shift in investor sentiment following Donald Trump’s victory against Vice President Kamala Harris in the recent US presidential election.
According At CoinShares, post-election inflows into digital asset investment products saw $1.98 billion, marking the fifth consecutive week of positive inflows and bringing the year-to-date total to a record $31.3 billion.
With the largest cryptocurrency in the market, total global assets under management (AUM) in cryptocurrencies have reached an all-time high of $116 billion.
Inflows were mainly driven by US investors, who contributed $1.95 billion, while European markets also saw lower inflows, particularly into Switzerland and Germany. Bitcoin alone attracted $1.8 billion in investments, reflecting a broader trend that emerged after the US Federal Reserve (Fed) cut interest rates in September.
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Susannah Streeter, Head of Currency and Markets at Hargreaves Lansdowne, noted The bullish momentum in the crypto market is driven by a feeling of “euphoria” following Trump’s election.
Streeter commented that his pledge to ‘go all-in on crypto’ has sent BTC to “new, major highs” and ultimately believes Trump’s move towards supporting the cryptocurrency industry The changes have created a more favorable regulatory environment, which has increased investor confidence.
In further support of this sentiment, Citi strategists highlighted that the cryptocurrency is one of the few Trump-related trades that has not retreated. He noted that his administration’s expected crypto-friendly policies could bring greater regulatory clarity in the US, which would further encourage investment.
Overall, as Bitcoin continues its uptrend, some predict With a combination of favorable market conditions and increasing institutional acceptance, BTC could reach the $100,000 milestone by the end of the year.
At the time of writing, the market-leading crypto is trading at $82,479, up 20% in the past week.
Display image from DALL-E, chart from tradingview.com
