30 August 2026
MicroStrategy Buys Additional $15 Million Worth Bitcoin
Amid the stormy waves in the Crypto space, Bitcoin is once again back in action. It is up by 7% and has soared above $48K levels with a market cap of $918 billion. This event occurred as soon as the business intelligence firm- MicroStrategy added another 328 Bitcoin for about $15 million to its massive kitty.
It is another announcement just within a week after MicroStrategy bought 19,452 bitcoin worth $1.2 billion. Based on the official tweet, MicroStrategy owns ~ 90,859 bitcoin, acquired at an aggregate purchase price of ~ $2.19 billion and an average purchase price of ~ $24,063 per bitcoin. As per Reuters calculation, the company’s bitcoin holdings is valued at ~ $4.38 billion.
As Bitcoin continues to gain strength, big financial institutions continue to invest in the world’s largest cryptocurrency. Citibank said that Bitcoin could become the global trade currency after replacing the U.S. Dollar in a major revelation.
The banking giant also stated that the institutional investors’ entrance has sparked confidence in cryptocurrency, but persistent issues could limit widespread adoption. These include concerns over capital efficiency, insurance and custody, security, and ESG considerations from Bitcoin mining for institutional investors. Security issues with cryptocurrency do occur, but when compared to traditional payments, it performs better.
Even though Citibank believes that Bitcoin would face major hurdles with mainstream adoption, it is the first financial institution to acknowledge that crypto performs well compared to traditional payments.
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