MicroStrategy's CEO, Michael Saylor in a social media post X said his company has bought another $4.6 billion in Bitcoin and added to the cryptocurrency giant's holdings by 51,780 tokens.
The move has seen the company continue to expand its investments in leading cryptocurrencies. The result of the investment has resulted in the company's profit.
A Yahoo Finance report shows MicroStrategy Stock has outperformed many other stocks in the S&P 500 index in terms of year-to-date returns, rising more than 500% so far in 2024.
Now, the holding of 331,200 BTC tokens with an average price of around $88,627 provides comfort for the company to make a profit of about $13.7 billion.
Meanwhile, the company plans to issue exchange notes with 0% interest rate in December 2029 after acquiring a Bitcoin dump.
The notes are effective to open access with no additional charges or lower if remember to add Bitcoin purchases.
MicroStrategy's bet on the price of Bitcoin is raised further over the next market cycle.
