MicroStrategy increases Bitcoin purchases in February BTC reaches $54,000 level for the first time this year

Continuous purchase

MicroStrategy announced on the night of the 26th that it had increased its purchases of the crypto asset (virtual currency) Bitcoin. Unrealized gains exceed $4.4 billion (663 billion yen).

MicroStrategy has acquired an additional 3,000 BTC for ~$155 million at an average price of $51,813 per #bitcoinAs of 2/25/24, @MicroStrategy now hodls 193,000 $BTC acquired for ~$6.09 billion at an average price of $31,544 per bitcoin. $MSTR https://t.co/micudbYf3P

— Michael Saylor (@saylor) February 26, 2024

This time, he acquired 3,000 BTC of Bitcoin for an amount of $155 million. The average acquisition price was $51,813. With this additional purchase, the company's Bitcoin holdings increased to 193,000 BTC, pushing the overall average acquisition cost to $31,544 from 31,224 (January) last time.

The company's Bitcoin portfolio went from unrealized losses to unrealized gains for the first time in about three months when Bitcoin returned to the 30,000 level at the end of October last year, and is currently estimated at more than $4.4 billion (663 billion yen).

connection: MicroStrategy's Bitcoin holdings exceed 600 billion yen in unrealized gains

Bitcoin rose to 54,000 levels

After the MicroStrategy news, the price of Bitcoin rose significantly, increasing by 4.8% from the previous day. It hit a new high this year and returned to December 2021 levels.

Source: CoinGecko

This is due to an increase in net inflows to Bitcoin ETFs, as well as other factors such as Nvidia's strong financial results last week, the Nikkei 225 ATH update, and expectations for a Fed interest rate cut. Additionally, Bitcoin will undergo its fourth halving in about two months.

connection: Stock price rises significantly due to Nvidia's strong financial results, along with virtual currency AI stocks

As Bitcoin rises, the prices of crypto-related stocks such as Marathon (+20.8%) and Coinbase (+15.9%) also rise significantly.

connection: “This Bitcoin halving is different from the last time” Grayscale analysis

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