Bitcoin (BTC) Price Hits $38.8K for First Time in Over a Year

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Lyllah Ledesma

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Microstrategy (MSTR), the largest corporate holder of bitcoin (BTC), boosted its holdings in November, buying some 16,130 BTC, worth around $608 million at Thursday’s prices. The Michael Saylor-founded software developer bought the bitcoin for around $593.3 million in cash at an average price of about $36,785 apiece, according to a regulatory filing. It now holds 174,530 BTC bought at an average of about $30,252 per coin. The November purchases mark an acceleration in the firm’s bitcoin buying activities. As of end-October, MicroStrategy held 158,400 BTC, having acquired 6,607 BTC since the beginning of the third quarter. It’s now increased its holdings by over 10% in a month.

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