MicroStrategy, a business intelligence firm, continues to aggressively buy Bitcoin, with its latest purchase of 2,138 BTC costing $209 million. This brings their total Bitcoin holdings to 446,400 BTC. The buy, announced on December 30, occurred between December 23 and December 29 at an average price of $97,837 per Bitcoin. Despite this substantial acquisition, MicroStrategy’s stock fell by 5.19% on the same day, even though it has surged 395% over the year. CEO Michael Saylor remains bullish on Bitcoin and plans to keep buying, promoting it as a better investment than gold. 2024 has seen significant institutional interest in Bitcoin, further validating its position in the Market.
MicroStrategy Continues Bitcoin Expansion with Major New Purchase
MicroStrategy, a leading business intelligence firm, is making headlines again as it continues its aggressive Bitcoin buying strategy. Recently, the company announced the acquisition of 2,138 Bitcoin (BTC) at a cost of $209 million, bringing its total holdings to an impressive 446,400 BTC.
MicroStrategy’s Latest Bitcoin Purchase
In a press announcement, MicroStrategy confirmed that the latest purchase took place between December 23 and December 29, with the company paying an average price of $97,837 per Bitcoin. To fund this substantial buy, MicroStrategy sold 592,987 shares. This recent acquisition marks the eighth week in a row that the firm has increased its Bitcoin holdings.
Michael Saylor, MicroStrategy’s CEO, had hinted about the purchase the day before by sharing a chart known as the “Saylor Tracker,” which documents the company’s Bitcoin purchases. He mentioned some “disconcerting” trends that suggested another acquisition was likely. According to the latest data, MicroStrategy’s Bitcoin yield reached a remarkable 74.1% year-to-date, reflecting the firm’s strong performance in the cryptocurrency Market.
Impact on Stock Performance
Despite this latest purchase, MicroStrategy’s stock (MSTR) saw a decline of 5.19% on the day of the announcement. However, it’s worth noting that the company’s stock has experienced an exceptional gain of 395% year-to-date, outpacing both Bitcoin and the S&P 500.
Saylor’s Ongoing Commitment to Bitcoin
Saylor remains famously bullish on Bitcoin and has vowed to continue buying regardless of price increases. He boldly stated his intention to keep accumulating Bitcoin, even if the price per coin were to reach $1 million. Saylor has also suggested that investors shift their focus from gold to Bitcoin, calling it a superior store of value.
2024: A Key Year for Bitcoin Adoption
The year 2024 is shaping up to be monumental for Bitcoin as institutional interest continues to climb. Earlier in the year, the U.S. Securities and Exchange Commission (SEC) approved spot Bitcoin exchange-traded funds (ETFs), giving institutional investors easier access to Bitcoin. Additionally, recent surveys indicate that a significant majority of institutional investors are open to investing in digital assets, solidifying Bitcoin’s appeal.
As of now, Bitcoin trades at $91,779, down 3.2% in the last 24 hours. With MicroStrategy’s continued commitment and the growing institutional acceptance, the future of Bitcoin looks promising.
Tags: MicroStrategy, Bitcoin purchase, Michael Saylor, cryptocurrency news, Bitcoin investment, institutional adoption
What is MicroStrategy’s latest Bitcoin purchase?
MicroStrategy recently bought 2,138 Bitcoin. This is a part of their ongoing strategy to invest in Bitcoin and hold it as a key asset.
Why does MicroStrategy keep buying Bitcoin?
MicroStrategy believes in the long-term value of Bitcoin. The company thinks it can be a good hedge against inflation and a strong store of value.
How much Bitcoin does MicroStrategy own in total?
With the latest purchase, MicroStrategy now holds around 152,333 Bitcoin. This makes them one of the largest corporate holders of Bitcoin in the world.
What does this mean for Bitcoin’s value?
More companies buying Bitcoin can show growing interest in the asset, which may help increase its price. It also indicates that Bitcoin is being seen as a serious investment option.
Is MicroStrategy the only company buying Bitcoin?
No, other companies are also investing in Bitcoin. Firms like Tesla and Square have made significant Bitcoin purchases, but MicroStrategy is currently one of the most aggressive investors.
