MicroStrategy, under the leadership of Michael Saylor, has once again expanded its Bitcoin holdings. For the sixth consecutive week, the firm has been actively acquiring BTC. With Bitcoin’s recent surge past the $106,000 mark on Monday, MicroStrategy purchased an additional 15,350 BTC for around $1.5 billion, at an average price of approximately $100,386 per Bitcoin.
This brings MicroStrategy’s total Bitcoin stash to 439,000 BTC, acquired for about $27.1 billion at an average of $61,725 per BTC. Saylor also revealed that the firm’s Bitcoin holdings have reaped significant returns, with a 46.4% gain quarter-to-date and 72.4% gain year-to-date.
The market’s bullish trend follows increased optimism since President-elect Donald Trump’s re-election on November 5, as investors anticipate regulatory changes favorable to digital assets after years of challenges from the US Securities and Exchange Commission.
The Bitcoin price spike is accompanied by a 54% increase in trading volume in the past 24 hours, reaching $92 million. MicroStrategy’s Bitcoin investment strategy has also boosted its stock (MSTR) price. After the announcement of its listing on the Nasdaq 100 index last week, shares rose over 3% in premarket trading. The inclusion, effective on December 23, is expected to draw $2.1 billion in stock purchases from over 200 exchange-traded products tracking the index.
Bernstein analyst Gautam Chhugani described MicroStrategy’s Bitcoin buying program as “unprecedented,” making it the largest corporate Bitcoin owner with around 2% of the total supply. Currently, Bitcoin has consolidated at $103,900 after hitting new highs, with 2% and nearly 6% gains in the 24-hour and weekly time frames respectively.
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MicroStrategy Bolsters Bitcoin Holdings, Reaps Impressive Returns
