From Investing.com
November 19, 2024 01:04:25 AM:

Bitcoin surged on Tuesday after MicroStrategy announced a record $4.6 billion purchase of the coin. The company now holds 331,200 Bitcoins and plans to buy more. Shares of MicroStrategy rose 13% to a record high. Altcoins remained near recent peaks as the post-Trump rally cooled with focus shifting to future policies.

The price of Bitcoin rose 0.8% to $91,359.6, staying close to its record high of $93,226.6. MicroStrategy bought 51,780 Bitcoins at an average price of $88,627 per coin, making it the largest corporate holder of Bitcoin. The company’s CEO, Michael Saylor, plans to take on more debt to purchase additional Bitcoin in the future.

Crypto prices, including altcoins, started to cool after Trump’s election victory fueled gains. While most altcoins remained near recent highs, the pace of gains slowed. Trump’s pro-crypto stance initially boosted prices, but markets are now waiting to see actual policy changes. Some tokens, like , saw increased social media buzz after Trump’s victory.

Read more at Investing.com: upbeat above $91k on record MicroStrategy purchase By Investing.com