Riot Platform Acquires 667 BTC, Boosting Holdings to 17,429 Tokens

The post Riot Platform Acquires 667 BTC, Boosting Holdings to 17,429 Tokens appeared first on Coinpedia Fintech News In a latest development, Riot platform has yet again made a BTC purchase, as the company disclosed that with the additional proceeds from it’s upsized $594 million, 0.75% coupon convertible bond issue, the company has acquired 667 BTC at an average price of $101,135 per BTC. With the additional proceeds from Riot’s upsized $594 million, 0.75% coupon convertible bond issue, the Company has acquired 667 BTC at an average price of $101,135 per BTC. As a result, Riot has increased its holdings to 17,429 BTC, currently valued at $1.8 billion based on the… pic.twitter.com/t68Uy8nbHU — Riot Platforms, Inc. (@RiotPlatforms) December 16, 2024 Riot Achieves 37.2% BTC Yield The purchase, made on December 12-13, boosted Riot’s total bitcoin holdings to 17,429 tokens, currently valued at $1.8 billion based on the current market price of BTC of $103,873. Riot also shared that through this acquisition and mining production YTD, it has generated a BTC Yield Per Share of 36.7% QTD, and 37.2% YTD. Just recently, the company acquired 5,117 BTC at an average price of $99,669 per BTC, inclusive of fees and expenses. Riot’s acquisition underscores the ongoing interest and investment in Bitcoin by major industry players, despite the volatile nature of the market. Riot’s decision to acquire Bitcoin highlights its commitment to Bitcoin’s potential for growth in the future. Riot’s Purchase Coincides With MicroStrategy’s BTC Buy Riot’s recent Bitcoin purchase coincides with MicroStrategy’s latest Bitcoin purchase, as it acquired 15,350 BTC for around $1.5 billion at an average price of $100,386 per Bitcoin. This is MSTR’s sixth purchase in six weeks. From the latest purchase, MicroStrategy will have a total holding of 423,650 Bitcoins. Notably, MicroStrategy will soon join the Nasdaq-100, placing it alongside some of the world’s leading companies. Also, MicroStrategy is the first Bitcoin treasury company to enter the Nasdaq-100. Notably, Bitcoin had surged above $106K earlier in Monday’s trading session, reaching a fresh high and is currently trading at $104,841, up over 1% in the last 24 hours.