MicroStrategy buys $615 million worth of Bitcoin
MicroStrategy’s Bitcoin investment is now at over $2 billion unrealized profit.
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MicroStrategy, the largest corporate Bitcoin holder, boosted its holdings, buying 14,620 BTC at an average price of $42,620 between November 30 and December 26. This purchase brings their total to 189,150 BTC, valued at over $8 billion at current prices.
Michael Saylor, founder of MicroStrategy, announced the move in an X post on Wednesday, saying:
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. $MSTR https://t.co/PKfYY59sTW
— Michael Saylor⚡️ (@saylor) December 27, 2023
MicroStrategy now controls approximately 1% of the circulating Bitcoin supply. With Bitcoin currently trading at around $43,000, the company’s unrealized gains exceed $2 billion.
MicroStrategy has been a leading Bitcoin advocate. In an interview with Bloomberg, Saylor stated that recent Securities and Exchange Commission (SEC) enforcement actions could pave the way for Bitcoin’s dominance in the market. He added that Bitcoin stands apart from other cryptocurrencies, notably because SEC Chairman Gary Gensler has not classified it as a security.
The purchase came ahead of the upcoming decision on spot Bitcoin ETFs. So far, Bloomberg ETF analysts have remained optimistic about the SEC’s decision on spot Bitcoin ETFs, placing a 90% chance of approval by January 10.
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