In a strategic move that has captured the attention of the crypto community, MicroStrategy, a prominent business intelligence software company, has once again reinforced its position as the world’s largest corporate holder of Bitcoin (BTC). According to a recent filing with the United States Securities and Exchange Commission (SEC) on December 27, MicroStrategy disclosed a substantial increase in its Bitcoin holdings.
During the period from November 30, 2023, to December 26, 2023, MicroStrategy, along with its subsidiaries, acquired approximately 14,620 bitcoins at an average price of approximately $42,110 per bitcoin. The total value of this acquisition amounted to approximately $615.7 million. As of December 26, 2023, MicroStrategy holds an aggregate of about 189,150 bitcoins, acquired at an aggregate purchase price of approximately $5.895 billion, with an average purchase price of approximately $31,168 per bitcoin.
Founder and Chairman of MicroStrategy, Michael Saylor, shared the company’s significant Bitcoin purchase via his social media handle, sparking curiosity within the crypto community about the motives behind such a substantial accumulation. This move coincides with the growing anticipation of a Spot Bitcoin ETF, raising questions about MicroStrategy’s potential insights that could position it favorably amid the Spot Bitcoin ETF frenzy and the speculated 2024 Bitcoin bull run cycle.
As MicroStrategy strengthens its BTC portfolio, the company is witnessing a surge in its stock value. The MSTR stock has experienced a remarkable increase of over 300% in 2023, reaching a trading price of $613.80 at the time of writing, with a 15.25% increase in the past five days according to Market Watch.
This surge in MicroStrategy’s stock performance is attributed to the heightened expectations surrounding the potential approval of Spot Bitcoin ETFs in the United States. The crypto community awaits the SEC’s decision on the crucial deadline of January 10, 2024, which will determine whether Spot Bitcoin ETFs will be denied or approved.
MicroStrategy’s strategic moves in the crypto space continue to draw attention, and its substantial Bitcoin holdings underscore the company’s confidence in the long-term value and potential of the leading cryptocurrency.