Nasdaq-listed Microstrategy has bought 14,620 more bitcoin for approximately $615.7 million. The latest purchase raised the company’s cryptocurrency holdings to 189,150 bitcoin, acquired for about $5.9 billion at an average price of $31,168 per coin. Microstrategy’s executive chairman, Michael Saylor, believes that spot bitcoin exchange-traded funds (ETFs) “may be the biggest development on Wall Street in the last 30 years.”
Microstrategy Now Holds 189,150 Bitcoin
Software intelligence firm Microstrategy (Nasdaq: MSTR) announced Wednesday that it has acquired more bitcoin. The firm’s executive chairman, Michael Saylor, disclosed on social media platform X Wednesday:
Microstrategy has acquired an additional 14,620 BTC for ~$615.7 million at an average price of $42,110 per bitcoin. As of 12/26/23, Microstrategy now hodls 189,150 BTC acquired for ~$5.9 billion at an average price of $31,168 per bitcoin.
According to the company’s filing with the U.S. Securities and Exchange Commission (SEC), the additional coins were acquired during the period between Nov. 30 and Dec. 26.
Saylor shared on Dec. 17 that since his company adopted the bitcoin strategy on August 10, 2020, the price of BTC has surged by 253%. In contrast, the S&P 500 saw a modest increase of 40%, and the Nasdaq rose by 35%. Notably, gold remained stagnant in terms of price during this period, while silver experienced a decline of 14%, and bonds plummeted by 18%.
The Microstrategy executive chairman previously explained that his company’s bitcoin strategy “seeks to maximize long-term value” for shareholders. He sees BTC as “a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.”
Moreover, Saylor recently stated that Bitcoin “represents the digital transformation of capital and everyone is beginning to realize that they are underallocated.” He said last week that spot bitcoin exchange-traded funds (ETFs) “may be the biggest development on Wall Street in the last 30 years.” The SEC is currently evaluating 13 spot bitcoin ETF applications and the market expects the securities regulator to approve multiple of them by Jan. 10.
What do you think about Microstrategy buying more bitcoin and now holding 189,150 BTC? Let us know in the comments section below.
source https://news.bitcoin.com/microstrategy-acquires-more-bitcoin-raising-total-holdings-to-189150-btc/
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