As a seasoned analyst with over two decades of experience in the financial industry, I find MicroStrategy’s relentless pursuit of Bitcoin quite intriguing. Having navigated through several market cycles and witnessed the rise and fall of various asset classes, it is rare to see such a bold strategy being executed consistently.
For five weeks running, starting from early November, MicroStrategy has continued to acquire Bitcoin, with its latest purchase totaling approximately $2.1 billion as stated by the firm.
MicroStrategy Acquires 21,550 BTC
According to the recent announcement in a press statement, MicroStrategy disclosed that they have procured approximately 21,550 Bitcoins for a total of $2.1 billion at an average cost of $98,783 per Bitcoin. This move has resulted in a quarter-to-date (QTD) Bitcoin return of 43.2% and a year-to-date (YTD) gain of 68.7%.
With this latest acquisition, the company now owns a total of 423,650 Bitcoins. They obtained these at a cost of approximately $25.6 billion, with an average price per Bitcoin being around $60,324. This most recent purchase was made from December 2nd to 8th, making it the fifth straight week they’ve added Bitcoin to their holdings, continuing their streak of buying the leading cryptocurrency.
Simultaneously, this advancement occurs as Michael Saylor, co-founder of the company, urges the U.S. government to swap gold for Bitcoin. Other corporations are following MicroStrategy’s lead in investing in Bitcoin, with Worksport, a recent example, declaring its intention to purchase Bitcoin for its corporate assets.
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2024-12-09 16:19