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BTC Pushes Above $43k as MicroStrategy Purchases Another $615M Worth of Bitcoins

Twitter icon  •  Published il y a 4 mois  •  Hassan Maishera

Bitcoin is trading above the $43k level once again, with altcoins also rallying as MicroStrategy purchases more than $600 million worth of bitcoins.

TL;DR

  • Bitcoin is back above the $43k level again after adding more than 2% in the last 24 hours.

  • MicroStrategy has purchased another $615 million worth of bitcoins.

MicroStrategy Now Holds Nearly $6B in BTC

Bitcoin, the world’s leading cryptocurrency by market cap, has added more than 2% to its value over the last 24 hours. This latest development sees BTC climb above the $43k level once again after a poor start to the week.

At press time, the price of Bitcoin starts at $43,257, up by 2.17% in the past 24 hours. The positive performance comes as Michael Saylor’s MicroStrategy purchases more bitcoins.

Michael Saylor announced via X on Wednesday that MicroStrategy has purchased 14,620 BTC for $615.7 million at an average price of $42,110 per bitcoin. Thanks to this latest development, MicroStrategy now holds 189,150 BTC acquired for $5.9 billion at an average price of $31,168 per bitcoin. 

The company began buying bitcoins in August 2020. Last month, the company recently purchased 16,130 BTC, worth around $608 million at the time. As of early December, MicroStrategy was sitting on around $2 billion in profit from its Bitcoin holdings. 

With Bitcoin adding 2% to its value, the total cryptocurrency market cap has increased to $1.7 trillion, up by more than 3% in the last 24 hours.

ETH, BNB, ADA, LINK, and BCH all rallied significantly over the last 24 hours. Chainlink’s LINK is the best performer amongst the top 20 cryptocurrencies by market cap, adding 17% to its value in the last 24 hours. 

ETH (7%(, BNB (11%), ADA (9%), and BCH (14%) round up the list of the top performers amongst the leading 20 cryptocurrencies by market cap. 

 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.