MicroStrategy Keeps Stacking Bitcoin, Adds 2,138 BTC In Latest Purchase

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As a seasoned crypto investor with over a decade of experience under my belt, I find MicroStrategy’s relentless Bitcoin (BTC) buying spree to be nothing short of inspiring. Having witnessed the rise and fall of numerous cryptocurrencies, I have learned that patience and long-term vision are crucial in navigating this ever-evolving market.

In my humble opinion, MicroStrategy’s latest BTC acquisition is a testament to their foresight and commitment to Bitcoin as a strategic asset. The company’s consistent purchases over the past few months demonstrate an unwavering confidence in the digital gold’s potential for growth and long-term value.

Michael Saylor, with his bold predictions and advocacy for Bitcoin, has emerged as a true visionary in this space. His conviction to “buy the top forever” is reminiscent of legendary investors like Warren Buffett, who have made fortunes by buying undervalued assets with a long-term perspective.

That being said, I must admit that I’ve learned the hard way not to underestimate the market’s unpredictability. Even with MicroStrategy’s impressive gains and Bitcoin’s potential, it’s important to remember that investing in crypto is like riding a rollercoaster – exhilarating at times but always unpredictable!

In closing, let me leave you with a little joke to lighten the mood: Why did Bitcoin cross the road? To get to the other chain – because it can’t resist a fork in the road!

MicroStrategy is still on a roll with its Bitcoin acquisitions. Recently, it added another 2,138 Bitcoins for approximately $209 million to its collection, bringing its total Bitcoin holdings up to 446,400 units.

MicroStrategy Ends 2024 With Another Bitcoin Buy

Today, a U.S. company revealed that they’ve increased their Bitcoin holdings by buying 2,138 more Bitcoins. As stated in the announcement, MicroStrategy acquired these Bitcoins during the period from December 23rd to December 29th, with an average cost of $97,837 per Bitcoin.

In order to cover the cost of the acquisition, MicroStrategy utilized $209 million in cash by offloading 592,987 shares. This week’s transaction represents the eighth successive week that the company has been buying Bitcoin.

Yesterday, MicroStrategy CEO Michael Saylor hinted at a possible future Bitcoin purchase when he posted a chart known as the “Saylor Tracker,” which records the company’s Bitcoin acquisitions up to this point. In his statement, Saylor expressed some concerns about certain patterns on the “Saylor Tracker,” suggesting that more Bitcoin purchases might be imminent.

The business disclosed that its Bitcoin return rate, a measure for evaluating Bitcoin investment performance, had hit an impressive 74.1% by the end of December 30th this year. From October 1st to December 29th, this Bitcoin return rate was at 47.8%, indicating substantial gains during the last quarter.

Although MicroStrategy made another Bitcoin purchase, this action didn’t boost its share price at the moment. In fact, as we speak, MicroStrategy shares (MSTR) have dropped by 5.19% for the day. Yet, it’s worth noting that this stock has experienced a remarkable increase of 395% year-to-date, which is more than Bitcoin and the S&P 500 in terms of percentage growth.

Michael Saylor, who is well-known for his persistent belief in Bitcoin, recently expressed his intention to continuously buy Bitcoin regardless of it hitting a price of $1 million per BTC. The CEO asserted this confidently, indicating he plans to continue purchasing Bitcoin. Additionally, Saylor has advocated for moving away from gold and has promoted Bitcoin as a more effective form of value storage. In the past, he’s commented that Bitcoin is superior to gold in this regard.

Get rid of your gold reserves, exchange them for Bitcoin instead, since you could purchase approximately 5 million Bitcoins with the gold’s worth. This transaction won’t cost you anything extra. By doing so, you will effectively render the entire gold asset class obsolete. It’s crucial to note that our adversaries often hoard gold in their banks, so if this plan is executed, their assets would be wiped out, while ours would skyrocket to an astounding hundred trillion dollars.

2024: A Watershed Year For BTC Adoption

2024 marked a notable milestone for the leading digital currency with increased institutional investment. Notably, in January, the United States Securities and Exchange Commission (SEC) gave the green light to Bitcoin spot exchange-traded funds (ETF), enabling large-scale investors to acquire BTC more conveniently.

In a similar vein, an October survey revealed that approximately 72% of institutional investors are open to investing in digital assets, strengthening Bitcoin’s increasing attractiveness. At the moment, BTC is valued at $91,779, representing a 3.2% decrease over the last 24 hours.

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2024-12-31 06:42