MicroStrategy Buys 21,550 Bitcoin for $2.1B, Rivaling BlackRock
MicroStrategy purchased an additional 21,550 Bitcoins today, spending $2.1 billion. This is the company’s second purchase in December, costing $98,783 per BTC.
Michael Saylor’s company has purchased more than $15 billion worth of Bitcoin since November.
MicroStrategy Buy More Bitcoin
Earlier today, MicroStrategy issued a press release statement Confirm purchase. Thaler’s continued strategy is not surprising, as two days ago, he Promote “Bitcoin Accumulation Plan” Protect assets as long-term investments.
“Cong Gave us a game we could all win. Bitcoin is that game,” Thaler explain In today’s interview.
The company also Purchased a similar quantity In early December, $1.5 billion was spent on BTC. Thaler has been a staunch supporter of Bitcoin for years, but his purchases have increased significantly.
Because of this rapid new consumption, MicroStrategy is undoubtedly One of the world’s largest Bitcoin holders. Those holdings have had a significant impact on the company’s share price this year. Bitcoin’s bullish cycle since 2017 ETF approval January’s performance has also been reflected in MSTR’s share price, which has soared nearly 450% year to date.
Overall, 2024 is Bitcoin’s most successful year, Price finally hits $100,000. This bull run encouraged other major institutional investors to buy Bitcoin in large quantities.
For example, leading ETF issuer BlackRock Increased Bitcoin purchases After the $100,000 milestone. The issuer currently co-owns There are more Bitcoins than Satoshi Nakamotowhich is an astounding feat. MicroStrategy has a long history of buying and advocating for Bitcoin, but BlackRock’s total AUM increased more than 100x due to net inflows from IBIT.
While Michael Saylor believes this Bitcoin-first approach is absolutely correct, Report This suggests that underlying capital flows are still small compared to spot ETF issuers. However, the scrutiny hasn’t stopped other public companies from following MicroStrategy’s lead.
As BeInCrypto reported earlier, smaller public companies such as MARA and Metaplanet also increased their holdings The entire bull market. These accumulations suggest that public companies see much higher price targets for Bitcoin, as they view these peak prices as buying opportunities.
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