Outside Source
Bitcoin’s largest corporate holder, MicroStrategy, has increased its total Bitcoin holdings to 386,700, according to executive chairman Michael Saylor.
On Nov. 25, Saylor announced that MicroStrategy had added 55,000 Bitcoin (BTC) to its crypto treasury. The software company spent $5.4 billion on the latest purchase, acquiring tokens at an average price of $97,862 per BTC.
It has cost MicroStrategy $21.9 billion to amass its Bitcoin trove since 2020. BTC’s value has appreciated over that four-period, earning Saylor’s firm more than $15.2 billion in unrealized profits. MicroStrategy’s founder said he doesn’t plan to sell any Bitcoin.
Saylor announced a three-year roadmap to inject $42 billion into BTC and fortify the startup’s balance sheet with more Bitcoin.
Entities jump on MicroStrategy’s BTC wagon
Saylor’s success BTC sweep has roused other companies to take action. Firms like Metaplanet, Semler Scientific, and Genius Group revealed respective BTC treasuries, aiming to capture gains from the asset’s meteoric ascent.
Semler Scientific founder Eric Semler disclosed $29.1 million worth of BTC buys an hour after Saylor published MicroStrategy’s addition. Both firms also have over 50% year-to-date yields from holding the world’s biggest cryptocurrency.
What’s next for Bitcoin?
Bitcoin recently cooled off as it neared the $100,000 mark for the first time in its history. BTC hit $99,645 on Nov. 24, following a series of record highs propelled by Donald Trump’s re-election.
Price discovery appears set to push BTC into six figures, but YouHodler’s chief of markets, Ruslan Lienka, suggested a period of consolidation may occur. In an email to crypto.news, Lienka noted that altcoins might rally while Bitcoin regains strength for another push toward new all-time highs.
Over the past week, market activity has concentrated primarily on second-tier major cryptocurrencies such as XRP and SOL, while BTC has temporarily paused- this could mark the onset of an alt-season. Meanwhile, BTC is undergoing a corrective phase, likely driven by profit-taking, which may result in the price consolidating before a potential move toward the key psychological level of $100,000.
Ruslan Lienka, YouHodler chief of markets
This article first appeared at crypto.news
