MicroStrategy Acquires 14,620 BTC for $615.7 Million
MicroStrategy, the software developer founded by Michael Saylor, is continuing its Bitcoin accumulation with a strategic move. The company has acquired 14,620 Bitcoins for approximately $615.7 million at an average price of $42,110 per Bitcoin.
MicroStrategy Now Holds 189,150 BTC
As of December 26, 2023, MicroStrategy holds a substantial 189,150 BTC, making it the largest corporate holder of Bitcoin. These coins were acquired for around $5.9 billion, with an average purchase price of $31,168 per Bitcoin.
MicroStrategy’s Commitment to Bitcoin
This latest acquisition reaffirms MicroStrategy’s commitment to Bitcoin as a long-term treasury reserve asset.
MicroStrategy’s Profit from Bitcoin Investment
In November this year, MicroStrategy experienced a turnaround and gained over $1 billion in unrealized profits from Bitcoin. This helped the company bounce back from a $1 billion loss in 2022. With the latest purchase, reports suggest that MicroStrategy now stands at $2.21 billion in profit on its $5.9 billion Bitcoin investment.
Michael Saylor’s Advocacy for Bitcoin
Despite market slumps and volatility, Michael Saylor has remained a long-standing advocate for Bitcoin. He recently forecasted a tenfold surge in the asset’s value by 2024, attributing this potential bull run to factors such as the upcoming halving and the potential approval of a spot Bitcoin ETF.
Hot Take: MicroStrategy Continues to Lead Corporate Adoption of Bitcoin
MicroStrategy’s relentless accumulation of Bitcoin positions the company as a leader in corporate adoption of the digital asset. With its strategic moves and long-term commitment, MicroStrategy is capitalizing on Bitcoin’s potential for significant profits and solidifying its position as a major player in the cryptocurrency market.
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