MicroStrategy Expands Its BTC Holdings with $561M Purchase
On December 23, Bitcoin advocate Michael Saylor announced that MicroStrategy had purchased 5,262 BTC for $561 million, with an average price of ~$106,662 per coin.
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On December 23, Bitcoin advocate Michael Saylor announced that MicroStrategy had purchased 5,262 BTC for $561 million, with an average price of ~$106,662 per coin.
As of December 22, 2024, MicroStrategy holds 444,262 Bitcoins, acquired for a total of ~$27.7 billion at an average price of ~$62,257 per coin, according to Michael Saylor.
The market value of these Bitcoin holdings is now over $41.8 billion, surpassing their acquisition cost. However, the most recent purchase, announced by Saylor on Monday, seems less favorable than earlier buys, as Bitcoin dipped below $93,000 on December 23.
Check out: A Million Bitcoins for the U.S.? Cynthia Lummis' Ambitious Plan
Bitcoin enthusiasts witnessed a wild ride last week. The cryptocurrency broke a new record above $108,000 but quickly fell following a speech by Jerome Powell, Chair of the U.S. Federal Reserve.
Notorious Bitcoin critic Peter Schiff was quick to weigh in on MicroStrategy’s latest purchase. He noted that it was the smallest acquisition the company has made and pointed out that, for the first time, their average purchase price was higher than Bitcoin’s market value on Monday’s announcement date.
Read on: MicroStrategy’s BTC Acquisition Streak Backs Schiff’s Insights
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