In a strategic move that has effectively caught the attention of the crypto space, Microstrategy has once again strengthened its bitcoin portfolio, strengthening its position as the largest corporate holder of btc globally.
MicroStrategy Boosts btc Holdings
In a recent presentation On December 27, the United States Securities and Exchange Commission (SEC) announced that business intelligence software company, bitcoin-bet/” rel=”nofollow”>Microstrategy has increased its bitcoin holdings of 14,620 btc valued at approximately $615.7 million.
“On December 27, 2023, MicroStrategy Incorporated (“MicroStrategy”) announced that, during the period from November 30, 2023 to December 26, 2023, MicroStrategy, together with its subsidiaries, acquired approximately 14,620 bitcoins for approximately 615.7 million dollars in cash. at an average price of approximately $42,110 per bitcoin, including fees and expenses,” the report states.
He added:
As of December 26, 2023, MicroStrategy, together with its subsidiaries, owned a total 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, including fees and expenses. .
The founder and president of Microstrategy, bitcoin-demand-set-to-soar-10-fold-michael-saylor/” rel=”nofollow”>Michael Saylor also announced the company's substantial purchase of btc through its x (formerly Twitter) identifier. This movement has caused curiosity among cryptocurrency enthusiasts and investors, raising questions about the cryptocurrency investor's ultimate strategy and the motivations behind the company's accumulation of substantial amounts of bitcoin.
bitcoin-strategy-is-going/” rel=”nofollow”>Microstrategy's strategic investment in btc It also comes quietly as anticipation for the Spot bitcoin ETF grows. The major btc purchase raises the possibility that the company has information that could put it in a strong position to potentially benefit from the bitcoin-etf-most-game-changing-wall-street-development/” rel=”nofollow”>Discover the bitcoin ETF Craze and at the same time leads the 2024 bitcoin bull cycle.
<img decoding="async" class="aligncenter size-medium" src="https://technicalterrence.com/wp-content/uploads/2023/12/MicroStrategy-Spends-Another-615-Million-on-Bitcoin-Do-They-Know" alt="bitcoin Price Chart from Tradingview.com (MicroStrategy)” width=”3266″ height=”1530″ loading=”lazy”/>
btc price above $43,000 | Source: BTCUSD on Tradingview.com
MSTR Stock Surges Amid bitcoin ETF Frenzy
Like microstrategy bitcoin-microstrategy-stock-sale/” rel=”nofollow”>increases your btc portfolio On the one hand, at the same time, the company witnesses an increase in the value of its shares. The business intelligence software company has seen its bitcoin-giants-buy-75-million-microstrategy/” rel=”nofollow”>MSTR stock performance will skyrocket by more than 300% in 2023. At the time of writing, MSTR price is trading at $613.80 with an increase of 15.25% in the last five days according to Market clock.
This price increase can largely be attributed to the expectations surrounding the bitcoin Spot ETF in the United States. The crypto industry is currently watching how btc-spot-etfs-for-issuers/” rel=”nofollow”>SECOND The crucial deadline to reject or approve is approaching. bitcoin-etf-may-be-approved-soon-reuters/” rel=”nofollow”> Spot bitcoin ETFs. The final date of the SEC's decision on the bitcoin ETF is already scheduled for January 10, 2024.
Featured image of Milk Road, chart from Tradingview.com
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