NAIROBI – (Coinchapter.com) MicroStrategy buys 3k Bitcoin, further expanding its already massive holdings. The software company added another 3,000 BTC to its portfolio, a purchase worth approximately $155 million. This latest acquisition brings MicroStrategy’s total Bitcoin investment to a staggering 193,000 BTC, acquired for around $6.09 billion.
Unfortunately, Microstrategy’s Bitcoin purchase announcement coincided with a security breach. The company’s X account was hacked and used to promote fraudulent token airdrops, resulting in the theft of over $440,000 in user funds, according to on-chain investigator ZachXBT.
Microstrategy began its Bitcoin treasury strategy in 2020 and has become one of the world’s largest Bitcoin holders. The company’s total Bitcoin investment now stands at approximately $6.09 billion, with an average purchase price of $31,544 per Bitcoin.
Following this development, the overall cryptocurrency market is experiencing positive momentum. The global crypto market cap currently sits at $2.06 trillion, reflecting a 3.47% increase over the past 24 hours. Bitcoin (BTC) continues to lead the market, with a current price of $53,379.34. Ethereum (ETH), the second-largest cryptocurrency, trades at $3,151.68.
To clarify, Microstrategy’s Bitcoin purchase coincides with a broader surge in institutional interest in Bitcoin. Recent moves suggest that investors may increasingly view Bitcoin as a potential hedge against inflation and a viable alternative to traditional assets like gold.
Recently, the growing popularity of Bitcoin ETFs (Exchange Traded Funds) highlights this trend. Moreover, ETFs provide investors with easy exposure to Bitcoin without the need to purchase or store the cryptocurrency directly themselves. Interestingly, the recent surge in Bitcoin ETF holdings raises the intriguing question of whether Bitcoin ETFs could eventually surpass the size of Gold ETFs.
Investors are always on the search for the next high-potential crypto coins to invest in.…
Notcoin, a new social clicker game within the Telegram messaging app, is gaining immense popularity…
Bitcoin is not devoid of bullish cues, which could help the prime crypto token's price…
With its official launch slated for May 2024, Winbit is already making waves with its…
SBI VC Trade Joins XRP Ledger SBI VC Trade, Japan's leading cryptocurrency exchange, has launched…
Meme AI Breaks Out With 900% Volume Spike NAIROBI (Coinchapter.com) - Meme AI (MEMEAI), has…