Bitcoin Price Skyrockets Above $100K as MicroStrategy Announces Latest Purchase
It has taken roughly three weeks for bitcoin to come out of the woods, skyrocket past $100,000, and tap a yearly peak of over $101,000.
This came after the most recent MicroStrategy purchase, which is sort of unexpected given the developments after the previous such occasions.
CryptoPotato reported last Monday, just after the NASDAQ-listed giant announced its then-latest BTC purchase, that the cryptocurrency plunged hard, going from over $94,000 to a monthly low of $91,300. Interestingly, similar price drops transpired after each of the previous MicroStrategy, otherwise bullish acquisitions.
Now, though, the largest digital asset went on the offensive within an hour of the Saylor-led company’s announcement on X. It went from $98,000 to its highest price tag since December 19 of over $101,000.
This price surge arrived after MicroStrategy’s most modest BTC acquisition in the past couple of months. This time, the business intelligence software firm bought only 1,070 BTC for $101 million at an average price of $94,004 per one.
This is a stark contrast from some of the multi-billion dollar purchases completed in November and early December. Nevertheless, most recent reports indicated that the company aims to raise another $2 billion to accumulate more of the cryptocurrency.
MicroStrategy has acquired 1,070 BTC for ~$101 million at ~$94,004 per bitcoin and has achieved BTC Yield of 48.0% in Q4 2024 and 74.3% in FY 2024. As of 01/05/2025, we hodl 447,470 $BTC acquired for ~$27.97 billion at ~$62,503 per bitcoin. $MSTR https://t.co/CkLrLSkB5M
— Michael Saylor
(@saylor) January 6, 2025
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