Plato Data Intelligence.
Vertical Search & Ai.

MicroStrategy Concludes 2023 with a Massive $615.7 Million Bitcoin Purchase

Date:

There’s no stopping MicroStrategy as it continues its accumulation of Bitcoin.

In the latest development, the Michael Saylor-founded software developer is concluding 2023 with a strategic move, acquiring 14,620 Bitcoins for approximately $615.7 million at an average price of $42,110 per Bitcoin.

  • As of December 26, 2023, MicroStrategy – which has established itself as the largest corporate holder of Bitcoin – now holds a substantial 189,150 BTC, which was acquired for around $5.9 billion, with an average purchase price of $31,168 per Bitcoin.
  • The latest move reaffirms MicroStrategy’s commitment to Bitcoin as a long-term treasury reserve asset.
  • The development comes at a time when Bitcoin was trading at $42,934 after a 16% monthly increase.
  • The NASDAQ-listed business intelligence software giant poured in $600 million to buy 16,130 BTC more for an average price of $36,785 per Bitcoin almost a month ago.
  • MicroStrategy experienced a turnaround in November this year as it gained more than $1 billion in unrealized profits from Bitcoin, bouncing back from a $1 billion loss in 2022 attributed to the surge in crypto’s value.
  • With the latest purchase, this figure has gone up, with reports suggesting that the company currently stands at $2.21 billion in profit on its $5.9 billion Bitcoin investment.
  • Despite the slump and excessive volatility following the 2022 market downturn, Saylor continued to be a long-standing advocate of Bitcoin.
  • The exec recently forecasted a tenfold surge in the asset’s value by 2024, attributing this potential bull run to factors such as the upcoming halving as well as the potential approval of a spot Bitcoin ETF.
SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).


.custom-author-info{ border-top:none; margin:0px; margin-bottom:25px; background: #f1f1f1; } .custom-author-info .author-title{ margin-top:0px; color:#3b3b3b; background:#fed319; padding:5px 15px; font-size: 20px; } .author-info .author-avatar { margin: 0px 25px 0px 15px; } .custom-author-info .author-avatar img{ border-radius: 50%; border: 2px solid #d0c9c9; padding: 3px; }
spot_img

Latest Intelligence

spot_img