MicroStrategy Spends Another $615 Million On Bitcoin, Do They Know Something You Don’t?
28 Dezembro 2023 - 7:30AM
NEWSBTC
In a strategic move that has effectively caught the attention of
the crypto space, Microstrategy has once more fortified its Bitcoin
portfolio, strengthening its position as the largest corporate
holder of BTC globally. MicroStrategy Boost BTC Holdings In a
recent filing on December 27, the United States Securities and
Exchange Commission (SEC) announced that business intelligence
software company, Microstrategy has increased its Bitcoin holdings
by 14,620 BTC valued approximately at $615.7 million. “On
December 27, 2023, MicroStrategy Incorporated (“MicroStrategy”)
announced that, during the period between November 30, 2023, and
December 26, 2023, MicroStrategy, together with its subsidiaries,
acquired approximately 14,620 bitcoins for approximately $615.7
million in cash, at an average price of approximately $42,110 per
bitcoin, inclusive of fees and expenses,” the report stated.
Related Reading: Solana Meme Coins: A Guide to Buying, Trading, And
Profiting From SOL Investments It added: As of December 26, 2023,
MicroStrategy, together with its subsidiaries, held an aggregate of
approximately 189,150 bitcoins, which were acquired at an aggregate
purchase price of approximately $5.895 billion and an average
purchase price of approximately $31,168 per bitcoin, inclusive of
fees and expenses. The founder and Chairman of Microstrategy,
Michael Saylor also announced the company’s substantial BTC
purchase via his X (formerly Twitter) handle. This move has sparked
curiosity among crypto enthusiasts and investors, prompting
questions about the crypto investor’s ultimate strategy and
motivations behind the company’s accumulation of substantial
amounts of Bitcoin. Microstrategy’s strategic BTC investment
also stealthily comes as the anticipation of Spot Bitcoin ETF
grows. The significant BTC purchase raises the possibility of the
company having information that could place it in a strong position
to potentially profit from the Spot Bitcoin ETF craze while
simultaneously leading the 2024 Bitcoin bull run cycle. BTC
price above $43,000 | Source: BTCUSD on Tradingview.com MSTR Stocks
Surge Amidst Bitcoin ETF Frenzy As Microstrategy ramps up its BTC
portfolio on one front, concurrently, the company witnesses a surge
in its stock value. The business intelligence software company has
seen its MSTR stock performance skyrocket by over 300% in 2023. At
the time of writing, the price of MSTR is trading at $613.80 with a
15.25% increase in the past five days according to Market
Watch. Related Reading: Dogecoin Whale Moves 71 Million DOGE
To Robinhood, What Does This Mean For Price? This price surge can
be largely attributed to the expectations surrounding the Bitcoin
Spot ETF in the United States. The crypto industry is presently
watching as the SEC approaches the crucial deadline to either deny
or approve Spot Bitcoin ETFs. The final date of the SEC’s
Bitcoin ETF decision has already been scheduled for January 10,
2024. Featured image from Milk Road, chart from Tradingview.com
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