Featured image from Milk Road, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
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.\u00a0 MicroStrategy Boost BTC Holdings In a recent filing on December 27, the United States Securities and Exchange Commission (SEC) announced that business intelligence software company, Microstrategy has increased its Bitcoin holdings by 14,620 BTC valued approximately at $615.7 million.\u00a0 \u201cOn December 27, 2023, MicroStrategy Incorporated (\u201cMicroStrategy\u201d) 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,\u201d the report stated. Related Reading: Solana Meme Coins: A Guide to Buying, Trading, And Profiting From SOL Investments 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, Michael Saylor also announced the company\u2019s substantial BTC purchase via his X (formerly Twitter) handle. This move has sparked curiosity among crypto enthusiasts and investors, prompting questions about the crypto investor\u2019s ultimate strategy and motivations behind the company\u2019s accumulation of substantial amounts of Bitcoin.\u00a0 Microstrategy\u2019s strategic BTC investment 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 Spot Bitcoin ETF craze while simultaneously leading the 2024 Bitcoin bull run cycle.\u00a0 BTC price above $43,000 | Source: BTCUSD on Tradingview.com MSTR Stocks Surge Amidst Bitcoin ETF Frenzy As Microstrategy ramps up its BTC portfolio on one front, concurrently, the company witnesses a surge in its stock value. The business intelligence software company has seen its MSTR stock 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 Market Watch.\u00a0 Related Reading: Dogecoin Whale Moves 71 Million DOGE To Robinhood, What Does This Mean For Price? 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 SEC approaches the crucial deadline to either deny or approve \u00a0Spot Bitcoin ETFs. The final date of the SEC\u2019s Bitcoin ETF decision has already been scheduled for January 10, 2024. Featured image from Milk Road, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":567238,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,679,1119,89185,1122,1144,78790,81299,89013,91003,89973],"class_list":["post-567235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-microstrategy","tag-microstrategy-bitcoin","tag-microstrategy-btc","tag-microstrategy-news"],"acf":[],"yoast_head":"\n
MicroStrategy Spends Another $615 Million On Bitcoin, Do They Know Something You Don\u2019t?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n