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 on December 27, the United States Securities and Exchange Commission (SEC) announced that business intelligence software company, 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.
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, r also announced the company’s substantial BTC purchase via his (formerly Twitter) handle. This move has sparked 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.
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 while simultaneously leading the 2024 Bitcoin bull run cycle.
BTC price above $43,000 | Source:
MSTR Stocks Surge Amidst Bitcoin ETF Frenzy
As Microstrategy on one front, concurrently, the company witnesses a surge in its stock value. The business intelligence software company has seen its 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
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 approaches the crucial deadline to either deny or approve The final date of the SEC’s Bitcoin ETF decision has already been scheduled for January 10, 2024.
