Key Points
- MicroStrategy, Bitcoin’s largest corporate holder, has increased its Bitcoin holdings to 386,700.
- Other firms, including Metaplanet, Semler Scientific, and Genius Group, have also started investing in Bitcoin.
MicroStrategy, the largest corporate holder of Bitcoin, has expanded its Bitcoin holdings to 386,700, as reported by executive chairman Michael Saylor.
On November 25, Saylor revealed that MicroStrategy had acquired an additional 55,000 Bitcoin.
The software firm spent $5.4 billion on this recent acquisition, purchasing tokens at an average cost of $97,862 per Bitcoin.
MicroStrategy’s Bitcoin Investment
Since 2020, MicroStrategy has spent $21.9 billion to accumulate its current Bitcoin holdings.
Over this four-year period, the value of Bitcoin has increased, resulting in over $15.2 billion in unrealized gains for the company.
Saylor has stated that he has no plans to sell any of the company’s Bitcoin.
He also revealed a three-year plan to invest $42 billion into Bitcoin and strengthen the company’s balance sheet with more Bitcoin.
Other Companies Follow Suit
The success of MicroStrategy’s Bitcoin investment has inspired other companies to follow suit.
Companies such as Metaplanet, Semler Scientific, and Genius Group have announced their own Bitcoin investments, hoping to benefit from the cryptocurrency’s rapid rise.
Semler Scientific’s founder, Eric Semler, disclosed a $29.1 million Bitcoin investment shortly after Saylor announced MicroStrategy’s new acquisitions.
Both companies have seen over 50% year-to-date returns from holding Bitcoin.
Bitcoin’s price recently cooled off as it approached the $100,000 milestone for the first time.
The cryptocurrency reached $99,645 on November 24, following a series of record highs driven by Donald Trump’s re-election.
Market speculation suggests that Bitcoin’s price could soon reach six figures, although some experts believe a period of consolidation may occur first.
Ruslan Lienka, YouHodler’s chief of markets, suggested in an email that altcoins might rally while Bitcoin recovers strength for another push toward new highs.
Over the past week, market activity has primarily focused on second-tier cryptocurrencies such as XRP and SOL, while Bitcoin’s price has temporarily paused.
This could be the beginning of an alt-season, while Bitcoin undergoes a corrective phase, likely driven by profit-taking, which may result in the price consolidating before potentially moving toward the key psychological level of $100,000.