Microstrategy, a business intelligence and software company, has increased its bitcoin holdings by acquiring an additional 12,333 BTC for approximately $347.0 million. This brings their total holdings to 152,333 BTC, acquired at an average price of $29,668 per bitcoin. The company clarified that these additional coins were purchased between April 29 and June 27, as stated in their filing with the SEC. Meanwhile, the price of bitcoin currently stands at $30,109.
Microstrategy’s co-founder and executive chairman, Michael Saylor, is known for his support of bitcoin. He believes that the cryptocurrency has gained support from various entities, including presidential candidates, regulators, legislators, money managers, bankers, investors, and the general public. This positive sentiment towards bitcoin is further emphasized by recent developments in the crypto industry. Blackrock, the world’s largest asset manager, has filed to launch a bitcoin trust, potentially paving the way for a spot bitcoin ETF. Other major companies, such as Fidelity, are reportedly following suit. These filings have generated optimism that the SEC will eventually approve a spot bitcoin ETF.
In addition to these developments, prominent financial institutions have made strides in the crypto space. The launch of EDX, a cryptocurrency exchange, saw participation from investors like Charles Schwab, Fidelity Digital Assets, and Virtu Financial. Deutsche Bank has also applied for a license to offer crypto custody services in Germany, while HSBC has enabled bitcoin and ethereum ETF trading on its mobile apps in Hong Kong. These advancements highlight the growing acceptance and integration of cryptocurrencies in traditional financial institutions.
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