27.12.2023
Mirjan Hipolito
Cryptocurrency and stock expert
27.12.2023

MicroStrategy anticipates Bitcoin's imminent rise and buys 14.6 thousand BTCs

MicroStrategy anticipates Bitcoin's imminent rise and buys 14.6 thousand BTCs MicroStrategy anticipates Bitcoin's imminent rise and buys 14.6 thousand BTCs

​MicroStrategy purchased 14,620 Bitcoins (BTC) for approximately $615.7 million between November 30 and December 26. 

The average purchase price of 1 BTC, including commissions and expenses, was $42,110. 

This operation was announced by MicroStrategy Chairman Michael Saylor on his X (Twitter) page.

As of December 26, MicroStrategy's total Bitcoin holdings reached 189,150 BTC purchased for approximately $5.9 billion, and the average purchase price per BTC was approximately $31,168, reported U.Today

Earlier, Michael Saylor said that the launch of spot Bitcoin ETFs in the U.S. will not weaken MicroStrategy's appeal to Bitcoin investors. The crypto community is optimistic about the launch of the first spot Bitcoin ETF in the U.S. According to the tentative timeline, this should happen by January 10, which is less than two weeks away. 

When asked about the potential negative impact of the ETF launch on MSTR, Saylor said that MicroStrategy is differentiated by its status as an operating company, unlike ETFs that are unleveraged and have fees. 

The MicroStrategy chairman explained that unlike future ETFs that do not use leverage and control fees, the company offers a leveraged path with no fees. Saylor also highlighted MicroStrategy's ability to generate additional BTCs through P&L or capital markets transactions. The move confirms MicroStrategy's intentions and treatment of Bitcoin as a strategic part of its financial reserve. 

It is worth noting that the company's strategy is not limited to accumulating Bitcoins; MicroStrategy is also using various financial tactics, such as obtaining interest-free loans, to support its Bitcoin investment strategy. 

At the time of writing, the price of Bitcoin is $43,000. 

Read also: Bitget lists the MOBILE token on Innovation Zone and Web3.

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