MicroStrategy Continues Accumulation Spree, Acquires 14,620 BTC

• MicroStrategy spent almost $42,110 per Bitcoin for its most recent stockpile.
• The firm and its subsidiaries now own 189,150 BTC.

Amidst mounting speculation about the possibility of a spot Bitcoin ETF being approved in the U.S, business intelligence company MicroStrategy continues to accumulate Bitcoin.

MicroStrategy has acquired an additional 14,620 BTC for ~$615.7 million at an average price of $42,110 per #bitcoin. As of 12/26/23, @MicroStrategy now hodls 189,150 $BTC acquired for ~$5.9 billion at an average price of $31,168 per bitcoin. $MSTR https://t.co/PKfYY59sTW

— Michael Saylor (@saylor) December 27, 2023

In its 8-K filing with the U.S SEC, MicroStrategy and its subsidiaries formally disclosed that from November 20, 2023, to December 26, 2023, the business acquired an additional 14,620 BTC for $615.7 million in cash. Including fees and other charges, MicroStrategy spent almost $42,110 per Bitcoin for its most recent stockpile, as stated in the filing.

Banking on Bitcoin

At an overall purchase price of almost $5.9 billion and an average purchase price per BTC of nearly $31,168, MicroStrategy and its subsidiaries now own 189,150 BTC.

This follows its last enormous purchase of 16,130 Bitcoin in November this year, at a price of $36,785 per Bitcoin. In September and October of 2023, the business purchased 6,067 BTC, and in June of the same year, it purchased 12,333 BTC.

In keeping with the goals of its co-founder and prominent Bitcoin advocate Michael Saylor, MicroStrategy’s recent purchase demonstrates its dedication to purchasing Bitcoin. The development comes only a few weeks before January 10th, the day when the community is eagerly awaiting the SEC’s approval of a spot Bitcoin ETF.

Saylor claims that the introduction of a spot Bitcoin ETF might be the “biggest development on Wall Street in 30 years” as it would allow institutional and individual investors who were previously unable to acquire BTC to do so.

Bitcoin has recovered from its 2022 losses, hitting a new yearly high and showing signs of a strong year-end. It seems like there could be further growth in the future, based on previous trends.

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