MicroStrategy Buys 11,000 Bitcoin for More than USD 1 Billion


Enterprise software maker Microstrategy has bought a large number of bitcoin in the last few weeks. The company has purchased around 11,000 bitcoins for about $ 1.1 billion in the week ended January 19. This is a large number of bite of bitcoins in the 11th consecutive week of microstrate.

The company’s executive chairman, Michael Saylor, has given this information in a post on social media platform x. Miscostrates have about 4,61,000 bitcoins. The company is planning to increase its authorized a class common stock from about 33 crore shares to over 10 billion shares with the aim of raising funds for bite purchases. The scheme will be introduced for voting at a meeting of Microsttyte’s shareholders on 21 January.

However, the company’s founder, Michael Saylor, accounts for about 47 percent in the voting of shares. This increase in shares of this American company will lead to the total number of its outstanding shares and will be close to the American company Alphabet operating Amazon and internet search engine Google. In October last year, Micostrateji reported that it would raise about $ 42 billion by issuing debt sales and shares to buy bitcoins in three years. Its share price has increased by more than 2,500 percent from the beginning of buying bitcoins of microstrate.

Bitcoin set up a new high level of $ 1,09,241 before the Donald Trump was sworn in as an American president on Monday. Trump also indicated to create a reserve of bitcoin. However, after becoming the President, the Bitcoin has declined significantly due to the lack of mention of crypto in his first speech. On publishing this report, Bitcoin’s price on the International Crypto Exchange Binance was around $ 1,05,740. Russia’s companies are using this highest value of cryptocurrency in business from abroad. The Russian government had allowed the use of cryptocurrency to change the law by changing the law and dealing with the restrictions of Western countries. Recently, Russia President Vladimir Putin said that the US government is reducing its role by using the dollar for political purposes. Because of this, many countries have to move to other assets.

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Crypto, Purchase, Bitcoin, Demand, Market, Donald Trump, Investment, Government, Exchange, MicroStrategy, Ether, Shares, Google, Solana, Prices

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