MicroStrategy Reveals Enormous Bitcoin Purchase in Anticipation of Bitcoin ETF

MicroStrategy Increases Bitcoin Holdings to Over 180,000 BTC

MicroStrategy, a prominent company with a significant amount of Bitcoin (BTC), remains committed to cryptocurrency and has further increased its holdings of the flagship crypto.

The company expanded its Bitcoin holdings through an acquisition, purchasing approximately $615.7 million worth of Bitcoin, equivalent to 14,620 BTC at an average cost of $42,110 per Bitcoin. The announcement was made by MicroStrategy’s owner, Michael Saylor, on December 27.

This acquisition has been confirmed by the Securities and Exchange Commission (SEC) through a form released by the agency. The form reveals that MicroStrategy and its subsidiaries acquired the specified amount between November 30 and December 26.

MicroStrategy’s Total Bitcoin Holdings

With this latest acquisition, MicroStrategy now holds a total of 189,150 BTC. The company acquired these Bitcoins for approximately $5.9 billion at an average cost of $31,168 per Bitcoin.

This puts MicroStrategy closer to owning 1% of the total BTC in circulation. Additionally, the valuation of their Bitcoin holdings represents around 0.7% of the total market cap of this digital asset.

Outlook and Optimism

MicroStrategy’s recent acquisitions align with its outlook on Bitcoin as a currency of the future. Michael Saylor is widely optimistic about the price of this cryptocurrency and continues to view it as a valuable asset.

Hot Take: MicroStrategy Bolsters its Position in Bitcoin

MicroStrategy’s consistent increase in Bitcoin holdings showcases their strong belief in the future potential of cryptocurrencies. With over 180,000 BTC in their possession, they are positioning themselves as one of the major players in the crypto space. This move not only strengthens MicroStrategy’s financial portfolio but also demonstrates their confidence in the long-term value and viability of Bitcoin. As the company continues to accumulate more BTC, it solidifies its position as a leading advocate for cryptocurrency adoption in the corporate world.