MicroStrategy Bought Another 14,620 $BTC ahead of the Spot ETF Decision

MicroStrategy Bought Another 14,620 $BTC ahead of the Spot ETF Decision

MicroStrategy announced it has purchased another 14,620 BTC for $615.7 million in cash between Nov. 20, 2023 and Dec. 26, 2023. The average purchasing price is roughly $42,110 per BTC.

MicroStrategy currently holds 189,150 BTC, the average cost of purchase per BTC is roughly $31,168. The company has said its bitcoin investments are intended as long-term holdings and that it expects to continue to accumulate Bitcoin.

"Due to its limited supply, bitcoin offers the opportunity for appreciation in value if its adoption increases and has the potential to serve as a hedge against inflation in the long-term," the company said in its latest quarterly report.

Shares of MicroStrategy jumped 11% on 27. Dec and the stock has surged over 350% this year, while bitcoin has gained nearly 160%.

Source

Bitcoin

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