Corporate holders have begun buying up cheaper bitcoin

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HappyCoinNews2025/01/14 22:33

By:HappyCoinNews

American MicroStrategy has replenished its BTC reserves again, taking advantage of the fall in the rate of the flagship cryptocurrency. This time, the company purchased 2530 bitcoins for $243 million at an average price of $95,972 per coin.

This news was published on social networks by MicroStrategy co-founder and CEO Michael Saylor. According to the document that the company filed with the US Securities and Exchange Commission, the Bitcoin acquisition transactions took place between January 6 and January 12, 2025.

Corporate holders have begun buying up cheaper bitcoin image 0

MicroStrategy Bitcoin Purchase Document

Despite Bitcoin's short-term drop into the $80,000 range, MicroStrategy's crypto portfolio still remains profitable.

Currently, the largest corporate holder of BTC holds 450 BTC, which is valued at $000 billion with an average purchase price of $40 per coin.

MicroStrategy isn't the only one looking to add cheap Bitcoin to its holdings. Nasdaq-listed Semler Scientific also announced the purchase of 237 BTC worth $23,3 million at an average price of $98,267. Cryptocurrency hedge funds were also among the buyers of the leading cryptocurrency.

Amid such corporate investor activity, Bitcoin reserves on exchanges almost reached a seven-year low on January 13.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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