Massive Bitcoin (BTC) Purchase Announced by MicroStrategy

MicroStrategy has acquired an additional 14,620 Bitcoins for approximately $615.7 million.

This purchase, which was announced earlier this Wednesday, was made at an average price of about $42,110 per Bitcoin, inclusive of fees and expenses.

The acquisition took place over a period from Nov. 30 to Dec. 26, involving MicroStrategy and its subsidiaries.

A $6 billion Bitcoin fortune

With this latest investment, MicroStrategy’s total Bitcoin holdings now stand at approximately 189,150 Bitcoins, acquired at an aggregate purchase price of around $5.895 billion and an average price of approximately $31,168 per Bitcoin.

The price of the flagship cryptocurrency is currently sitting at $42,862, according to CoinGecko data.

This major investment follows a substantial purchase made by MicroStrategy in November 2023. The company had previously announced the acquisition of 16,130 Bitcoins, totaling about $593.3 million.

Unfazed by Bitcoin ETF frenzy

In a recent Bloomberg interview, MicroStrategy’s executive chair and co-founder Michael Saylor confidently stated that the advent of Bitcoin ETFs in the U.S. won’t dampen the allure of MicroStrategy for investors keen on Bitcoin exposure.

Saylor’s argument hinges on a unique value proposition: unlike the upcoming ETFs, which don’t employ leverage and tack on fees, MicroStrategy offers a leveraged, no-fee route for those bullish on Bitcoin.

His strategy for MicroStrategy involves not just accumulating Bitcoin but also employing financial tactics like securing zero-interest loans to enhance its Bitcoin investment strategy.

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