Bitcoin Hungry MicroStrategy Makes $4.6B BTC Purchase

American business intelligence company MicroStrategy has increased its bitcoin holdings with a whopping $4.6 billion purchase. The latest acquisition comes one week after the firm bought 27,200 BTC for $2.03 billion.

MicroStrategy Buys Additional 51,780 BTC

According to a recent disclosure, the company bought 51,780 BTC for $4.6 billion at approximately $88,627 per coin. They have also achieved a BTC yield of 20.4% quarter-to-date and 41.8% year-to-date.

As of November 18, the business intelligence firm holds 331,200 BTC acquired at roughly $16.5 billion at an average of $49,874 per bitcoin. The company began acquiring the leading crypto asset four years ago and currently holds around 1.2% of the total Bitcoin supply.

Cosmos Health Takes Similar Step

Following MicroStrategy’s footsteps, other companies have embraced Bitcoin as a reserve asset and have continuously acquired the pioneer cryptocurrency, demonstrating their confidence in its long-term growth and potential.

In a recent disclosure, public company Semler Scientific, which adopted Bitcoin as its primary treasury reserve asset in May, revealed the acquisition of 215 BTC for $17.7 million. Earlier this month, the firm purchased 47 BTC for $3 million. With the latest purchase, the company holds 1,273 BTC valued at about $114 million at current market price.

Similarly, Cosmos Health, a global healthcare group, announced today that it has adopted a strategy to include Bitcoin and Ethereum as part of its treasury reserve assets. The company explained that this move will help diversify its balance sheet and offer significant upside potential as cryptocurrencies continue to gain global adoption.

“We believe this strategy will help us stand out by making a significant investment in the new era. [. . .] We view select crypto assets, such as Bitcoin and Ethereum, not only as potential hedges against inflation and currency devaluation but also as diversification tools offering substantial upside potential. Accordingly, we look forward to building a sizable reserve in these assets,” Greg Siokas, CEO of Cosmos Health, said.

In addition to adopting Bitcoin and Ethereum as treasury reserve assets, the firm said it’s also working to accommodate customers who wish to make payments in cryptocurrencies.

Meanwhile, the Japanese investment firm Metaplanet raised $11.3 million to boost its BTC stash. If everything goes according to plan, the company’s BTC portfolio will grow to as much as 1,141 BTC.