In the first week of December, three major US companies MicroStrategy, Marathon Digital, and Riot Platform made substantial Bitcoin acquisitions, collectively spending $3.26 billion to expand their holdings. This trend comes as Bitcoin hovers near its all-time high, defying the usual strategy of purchasing Bitcoin during dips.
MicroStrategy, the world’s largest corporate holder of Bitcoin, led the charge by acquiring 21,550 BTC for approximately $2.1 billion between December 2 and December 8. This brings their total Bitcoin holdings to 423,650 BTC, valued at $25.6 billion.
Marathon Digital, a prominent Bitcoin mining firm, acquired 11,774 BTC for around $1.1 billion, increasing their total holdings to 40,435 BTC, worth $3.9 billion. Meanwhile, Riot Platforms, a Bitcoin infrastructure company, acquired 705 BTC for $68.45 million in the same period.
The acquisitions come at a time when Bitcoin recently surpassed the $100,000 mark, hitting a new all-time high of $103,679. Despite the surge, these companies have continued to purchase Bitcoin, signaling their confidence in the asset’s future growth, particularly with the anticipated regulatory changes under the Donald Trump administration, which is expected to benefit the crypto market.
Although Bitcoin’s price has risen by 1.2% in the past week, it remains 5.4% below its all-time high. As of the latest data, Bitcoin is priced at $98,021, showing a modest 0.2% increase in the last 24 hours.
