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Crypto News

Deep Silor: 555 million dollars in bitcoin bought fuel strategy

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The strategy, which is previously referred to as Microstrategy, has Buy an additional 6556 bitcoin In a acquisition of $ 555.8 million. The company acquired Bitcoin between April 14 and April 20, as it spent 84,785 dollars per currency. This last step moves the company’s total Bitcoin to 538200 BTC.

The company now has more than $ 36 billion in Bitcoin

based on Company reportsThe strategy paid about $ 36.47 billion to buy bitcoin reserves at a rate of $ 67,766 per currency. The company is still the largest public company that holds Bitcoins, as it progresses on its competitors like Mara Holdings.

This is the second consecutive week’s strategy that bitcoin bought. Two weeks ago, the company acquired nearly 3460 BTC for more than 280 million dollars. The company has also published Bitcoin’s return by 12 % since the beginning of the year.

Ssource: Strategy

The strategy plans to raise 20 billion dollars for additional purchase

The company does not have any indication of the slowdown in bitcoin purchase. According to reports, the strategy plans to raise more than $ 20 billion in selling stocks to finance future Bitcoin purchases. This aggressive purchase continues even with relatively flat bitcoin performance in recent months.

The strategy is not the only one that takes the investment strategy in Bitcoin. Other institutional buyers walk the same way. Metaplanet has just captured 330 BTC for a little more than $ 28 million, which increased his detention to 4,855 Bitcoin at a value of $ 500 million. The Japanese retailer has also jumped to the game with the purchase of $ 70 million from Bitcoin.

High stock prices after the announcement of the purchase

The announcement of the new Bitcoin purchase of strategy comes at a time The stocks rose. MSTR shares increased by approximately 3 % in trading spanning about $ 325 from the closure of Friday at $ 317.

As of today, the market cap of cryptocurrencies stood at $2.71 trillion. Chart: TradingView

This stock performance seems to be linked to modern movements in Bitcoin prices. The cryptocurrency increased to $ 8,7600 while talking. Observers have pointed to the high positive link between MSTR shares and Bitcoin, which is understood given the great exposure to the strategy of the digital currency.

A few analysts are still cautious about the latest price increase from Bitcoin. Kevin Capital, the encryption analyst, warned that Bitcoin should move above $ 89,000 to verify the authenticity of the original upward trend. Until this happens, market participants recommend that they be careful.

If Bitcoin continues to rise in the next few weeks, strategy shares may do the same. CEO of the company and co -founder Michael Sailor In the past, he has already indicated that Microstrategy has spread higher returns than other major assets since the implementation of the Bitcoin strategy.

The continuous institutional investment in Bitcoin by companies such as the strategy indicates an increase in the prevailing acceptance of the encrypted currency as a good assets class despite the uncertainty surrounding the stability of prices in the long term and organizational issues.

Distinctive image of the star, the tradingView graph

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