MicroStrategy, recognized as the largest corporate holder of Bitcoin, has made a substantial addition to its crypto portfolio. Between November 30 and December 26, the company acquired 14,620 BTC at an average price of $42,620, marking a significant investment of $615 million.
Michael Saylor’s Big Announcement
In a recent post on X, Michael Saylor, the forward-thinking founder of MicroStrategy, revealed the company’s latest move. He announced that they have acquired an additional 14,620 BTC at an average price of $42,110, totaling a $615 million investment.
Under Saylor’s guidance, MicroStrategy now boasts control over approximately 1% of the total circulating Bitcoin supply, amounting to 189,150 BTC. This highlights the company’s ongoing dedication to strategically accumulating Bitcoin.
Given Bitcoin’s current trading value of around $43,147, the company’s unrealized gains from its Bitcoin holdings have surpassed $2 billion, marking a significant milestone in MicroStrategy’s crypto journey.
SEC’s Role in Bitcoin’s Future
MicroStrategy has been a vocal advocate for Bitcoin, with Michael Saylor highlighting the potential impact of recent Securities and Exchange Commission (SEC) enforcement actions.
Saylor emphasized that Bitcoin’s unique status, not classified as a security by SEC Chairman Gary Gensler, sets it apart from other cryptocurrencies. However, MicroStrategy made this purchase right before a big decision on spot Bitcoin ETFs.
According to some analysts, there’s a good chance, about 90%, that the SEC will approve these ETFs by January 10. Even though some people criticize MicroStrategy and its leader Michael Saylor for betting the company’s future on a somewhat risky and uncertain asset, the numbers from this move speak for themselves.
MicroStrategy’s Bitcoin Holdings Surpass Top Cryptocurrencies
Looking ahead, as excitement builds around the potential approval of spot Bitcoin ETFs, the value of Bitcoin is expected to rise. This, in turn, will boost the overall value of Bitcoin held by MicroStrategy.
Currently, MicroStrategy’s holdings are significantly larger than some of the top cryptocurrencies. For example, Litecoin has a collective worth of $5.6 billion, the meme coin Shiba Inu boasts a market cap of $6.4 billion, and Toncoin, though close, falls just below MicroStrategy with a value of $7.9 billion.
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- Source: https://coinpedia.org/news/microstrategy-continues-to-add-bitcoin-worth-of-615-million-amidst-secs-etf-decision/
