It took Bitcoin roughly three weeks to come out of the woods, soar above $100,000 and reach a yearly peak of over $101,000.
This comes after MicroStrategy’s latest purchase, which is somewhat of a surprise given the developments following previous similar cases.
CryptoPotato Last Monday, it was reported that immediately after the NASDAQ-listed giant announced its latest purchase of BTC, the cryptocurrency fell sharply, rising from over $94,000 to a one-month low of $91,300. Interestingly, similar price declines occurred after each of MicroStrategy’s previous acquisitions, which were otherwise bullish.
However, the largest digital asset has now gone on the offensive within an hour of the Saylor-led company’s announcement of X. Its price has risen from $98,000 to its highest price since December 19, exceeding $101,000.
This price surge comes after MicroStrategy’s most modest BTC acquisition in the last couple of months. This time, the business intelligence software company bought just 1,070 BTC for $101 million at an average price of $94,004 per piece.
That’s in stark contrast to some of the multibillion-dollar purchases made in November and early December. However, recent reports indicate that the company is looking to raise another $2 billion to accumulate more cryptocurrency.
MicroStrategy acquired 1070 BTC for ~$101 million at a price of ~$94,004 per bitcoin and achieved BTC returns of 48.0% in Q4 2024 and 74.3% in FY 2024. As of 01/05/2025, we hold $447,470 BTC purchased for ~$27.97 billion. at ~$62,503 per bitcoin. $MSTR https://t.co/CkLrLSkB5M
— Michael Saylor⚡️ (@saylor) January 6, 2025
