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Microstrategy, a company listed on the Nasdaq, recently expanded its Bitcoin holdings by purchasing an additional 14,620 bitcoins, valued at approximately $615.7 million. This acquisition elevates the firm’s total Bitcoin assets to 189,150, which were amassed for an estimated $5.9 billion, averaging $31,168 per coin. Michael Saylor, Microstrategy’s executive chairman, has expressed a strong conviction that the introduction of spot Bitcoin exchange-traded funds (ETFs) could be the most significant event in Wall Street in the past three decades.

Microstrategy’s Enhanced Bitcoin Investment

Microstrategy, a prominent player in the software intelligence market, publicized on Wednesday its recent Bitcoin procurement. The company’s executive chairman, Michael Saylor, announced via the social media platform X on Wednesday:

As of December 26, 2023, Microstrategy has bolstered its Bitcoin reserve by purchasing an additional 14,620 BTC for roughly $615.7 million, at an average cost of $42,110 per Bitcoin. Consequently, the company now possesses 189,150 BTC, cumulatively acquired for close to $5.9 billion, with an average purchase price of $31,168 per Bitcoin.

In its filing with the U.S. Securities and Exchange Commission (SEC), Microstrategy revealed that these additional Bitcoins were acquired between November 30 and December 26.

On December 17, Saylor highlighted the remarkable performance of Bitcoin since Microstrategy adopted its Bitcoin-centric strategy on August 10, 2020. Bitcoin’s value has escalated by 253%, in stark contrast to the modest increases of 40% in the S&P 500 and 35% in the Nasdaq. In the same period, gold’s price remained relatively unchanged, while silver and bonds saw declines of 14% and 18%, respectively.

Saylor has previously stated that Microstrategy’s strategy with Bitcoin is designed to “maximize long-term value for shareholders,” viewing it as a reliable store of value and a promising investment asset with superior appreciation potential compared to cash.

Additionally, Saylor recently emphasized the transformative role of Bitcoin in the digitalization of capital, noting the increasing realization of its underutilization in investment portfolios. He also remarked last week that the potential approval of spot Bitcoin ETFs could be a landmark development in the finance sector. Currently, the SEC is reviewing 13 applications for such ETFs, with expectations of multiple approvals by January 10.

We welcome your thoughts on Microstrategy’s expanded investment in Bitcoin, now totaling 189,150 BTC. Share your opinions in the comments section below.

Frequently Asked Questions (FAQs) about Microstrategy Bitcoin Acquisition

How much has Microstrategy invested in Bitcoin recently?

Microstrategy purchased an additional 14,620 bitcoins for about $615.7 million, raising their total Bitcoin holdings to 189,150 BTC.

What is the total value of Bitcoin held by Microstrategy?

As of December 26, 2023, Microstrategy’s total Bitcoin holdings amount to approximately $5.9 billion, acquired at an average price of $31,168 per Bitcoin.

What significant Wall Street development does Michael Saylor anticipate?

Michael Saylor believes that the introduction of spot Bitcoin exchange-traded funds (ETFs) could be the most significant event on Wall Street in the last 30 years.

How has Bitcoin’s price changed since Microstrategy adopted its Bitcoin strategy?

Since August 10, 2020, Bitcoin’s value has surged by 253%, significantly outperforming the S&P 500 and the Nasdaq.

What is Microstrategy’s view on Bitcoin as an investment?

Microstrategy sees Bitcoin as a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.

Is the SEC considering spot Bitcoin ETF applications?

Yes, the SEC is currently evaluating 13 applications for spot Bitcoin ETFs, with expectations of approving several by January 10.

More about Microstrategy Bitcoin Acquisition

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2 comments

EconExpert55 December 28, 2023 - 6:38 am

so, Bitcoin’s the winner in this game! Microstrategy’s smart, right?

Reply
FinanceWizard December 28, 2023 - 8:30 am

SEC reviewin’ them Bitcoin ETFs, could be a game-changer!

Reply

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