Microstrategy acquires 15,350 Bitcoin for $1.5B

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Grafa2024/12/17 12:40

By:Mahathir Bayena

Microstrategy, the business intelligence firm led by Michael Saylor, has made a substantial Bitcoin (CRYPTO:BTC) acquisition, adding 15,350 BTC to its holdings for approximately $1.5 billion.

The purchase was made between December 9 and 15, with an average price of $100,386 per Bitcoin.

This latest buy brings the firm’s total Bitcoin holdings to 439,000 BTC.

The company’s consistent purchases during this Bitcoin bull run show its ongoing commitment to the cryptocurrency, even as its price rises.

According to CryptoQuant community analyst Maartunn, this is Microstrategy's sixth purchase in recent months.

While this latest purchase is the smallest in terms of Bitcoin quantity, it is significant in USD value due to the increase in Bitcoin's price.

Microstrategy’s total Bitcoin holdings have now reached 439,000 BTC, an increase from the firm’s previous acquisitions.

Since the beginning of its Bitcoin investment strategy, Microstrategy has spent approximately $27.1 billion on its Bitcoin purchases, with an average price of $61,725 per BTC.

At the current price of Bitcoin, the company is sitting on profits of more than 72%.

In addition to Microstrategy’s acquisition, Bitcoin recently hit a new all-time high above $106,000.

According to on-chain analytics firm Glassnode, there has been significant buying activity in the $96,000 to $100,000 price range, with the $97,000 to $98,000 cluster containing the cost basis for 500,000 BTC.

Despite Bitcoin trading above $100,000, there are currently few significant clusters of Bitcoin holdings at these higher price levels.

At the time of reporting, the price of Bitcoin (BTC) was $106,467.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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