MicroStrategy just spent $615M on 14,620 BTC, adding to its crypto holdings. The expense adds to the company's almost $1.2B investment in bitcoin since November.
Former CEO Michael Saylor revealed that MicroStrategy purchased its Bitcoin for an average of $31,168. In total, the business has spent nearly $5.9B to protect 189,150 BTC. Their most recent buy, on December 27, cost an average of $42,110. Bitcoin is currently trading at roughly $42,900, indicating relative price stability.
Their buying spree started in June with the purchase of 12,000 BTC, for approximately $340M.
Saylor is optimistic that the introduction of spot bitcoin ETFs would function as a catalyst, benefiting corporations that hold bitcoin. He also noted that MicroStrategy's bitcoin exposure offers a high-performance option for long-term investors because it avoids the fees associated with ETFs.
The company's stock has increased by almost 337% in a year, thanks to its aggressive acquisition spree. The US Securities and Exchange Commission (SEC) may approve numerous bitcoin ETF applications by January 10th.
