Wednesday, 17 April 2024
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Bitcoin breaks $72k as MicroStrategy acquires an additional 12,000 BTC

Bitcoin breaks $72k as MicroStrategy acquires an additional 12,000 BTC

  • Bitcoin price hit an all-time high above $72,000 as MicroStrategy added 12,000 BTC to its holdings.
  • MicroStrategy now holds 205,000 BTC acquired at approximately $6.91 billion.
  • BTC traded to the $72,211 peak to see its market cap hit $1.42 trillion and surpass Silver as world’s 8th largest asset.

MicroStrategy has added an extra 12,000 BTC to its Bitcoin holdings, the company led by Michael Saylor has announced.

Saylor revealed the major news on Monday, stating that the firm bought the bitcoins for approximately $821.7 million. MicroStrategy netted the massive haul at the average price of $68,477 per BTC.

According to Saylor, the company acquired the additional coins using proceeds from its convertible notes and excess. Earlier in the day, reports indicated MicroStrategy had secured an 800 million loan for a six-year period. The company used the money to boost its Bitcoin holdings.

“As of 3/10/24, $MSTR hodls 205,000 $BTC acquired for ~$6.91B at average price of $33,706 per bitcoin,” Saylor posted on X.

Bitcoin price breaks to new ATH above $72,000

Bitcoin price soared amid the new purchase, rising to a new all-time high above $72,000.

With MicroStrategy’s acquisition in place and the spot Bitcoin ETF frenzy still in full swing, its possible the price of Bitcoin could extend gains. 

Here’s Messari founder & CEO’s take on Bitcoin price as the cryptocurrency pushed above $71k.

Earlier in the day, Bitcoin’s market cap flipped that of Silver to become the 8th largest asset in the world.

According to data from CoinGecko, Bitcoin price has reached a new all-time of $72,211.

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