- MicroStrategy buys additional 14,620 bitcoins for $615.7 million.
- Company’s total Bitcoin holdings reach 189,150 BTC, costing $5.9 billion.
- SEC’s potential approval of spot Bitcoin ETF anticipated on January 10.
As speculation grows regarding the potential approval of a spot Bitcoin ETF in the United States, MicroStrategy’s business intelligence firm persists in acquiring more Bitcoin
In a recent 8-K document submitted to the U.S. Securities and Exchange Commission, MicroStrategy and its subsidiary companies officially reported that they purchased an extra 14,620 bitcoins between November 20, 2023, and December 26, 2023. The total expenditure for these acquisitions was $615.7 million in cash. The filing indicated that the average cost per Bitcoin, including expenses and additional costs, was approximately $42,110 for this latest acquisition.
Banking on Bitcoin
MicroStrategy and its subsidiaries have acquired a total of 189,150 BTC, with the total cost of acquisition being close to $5.9 billion and the average cost per BTC at approximately $31,168.
The company’s most recent massive acquisition was in November of this year when it bought 16,130 Bitcoin for $36,785 each. Before that, in September and October of 2023, it acquired 6,067 BTC, and in June of 2023, it added 12,333 BTC to its holdings.
MicroStrategy, aligned with the objectives of Michael Saylor, its co-founder and a well-known supporter of Bitcoin, has shown its commitment to acquiring Bitcoin through its latest acquisition. This event occurs shortly before January 10, a date that is highly anticipated by the community for the SEC’s potential approval of a spot Bitcoin ETF.
Saylor asserts that the launch of a spot Bitcoin ETF could represent the most significant event on Wall Street in three decades, as it would enable both institutional and retail investors who were previously unable to purchase BTC to do so.
Bitcoin has rebounded from its losses in 2022, reaching a new high for the year and indicating a robust year-end performance. The potential for additional growth appears likely, considering historical patterns.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
