{"id":3292,"date":"2023-12-28T07:59:32","date_gmt":"2023-12-28T07:59:32","guid":{"rendered":"https:\/\/ethereumcode.io\/microstrategy-increases-bitcoin-assets-to-189150-btc\/"},"modified":"2023-12-28T07:59:32","modified_gmt":"2023-12-28T07:59:32","slug":"microstrategy-increases-bitcoin-assets-to-189150-btc","status":"publish","type":"post","link":"https:\/\/ethereumcode.io\/microstrategy-increases-bitcoin-assets-to-189150-btc\/","title":{"rendered":"Microstrategy Ups Bitcoin Ownership, Total Assets Now Stand at 189,150 BTC"},"content":{"rendered":"
Microstrategy, a leading software intelligence firm listed on Nasdaq, has boosted its cryptocurrency reserve. As per the latest reports, Microstrategy acquired an additional 14,620 bitcoins. The purchasing amount stands approximately at $615.7 million. This recent acquisition escalates the total count of bitcoins held by the company to 189,150. These coins have been bought for nearly $5.9 billion, with a mean price of $31,168 per bitcoin.<\/p>\n
The company’s Executive Chairman, Michael Saylor, interprets the inception of spot bitcoin exchange-traded funds (ETFs) as perhaps the most significant development in Wall Street over the past 30 years.<\/p>\n
Michael Saylor, the Executive Chairman of Microstrategy, recently updated the market about the company’s latest acquisition of bitcoin. In the addition to the company’s hoard, 14,620 bitcoins were bought at an average cost of $42,110 per bitcoin. Therefore, as of December 26, 2023, Microstrategy holds a total of 189,150 bitcoins, bought for an approximate amount of $5.9 billion at an average price of $31,168 per bitcoin.<\/p>\n
As stated in Microstrategy\u2019s filing with the U.S. Securities and Exchange Commission (SEC), the extra bitcoins were bought during the span between November 30 and December 26.<\/p>\n
Since adopting the bitcoin strategy on August 10, 2020, Saylor has noted that the price of BTC has experienced a significant rise of 253%. During the same period, S&P 500 saw a humble rise of 40%, while Nasdaq went up by 35%. Interestingly, gold faced a standstill in price change, silver saw a decline of 14%, and bonds dipped sharply by 18%.<\/p>\n
Long-term value maximization for shareholders has been the main focus of the bitcoin strategy of Microstrategy. The firm views BTC as a reliable store of value with greater long-term appreciation potential than holding cash.<\/p>\n
In a recent talk, Saylor stressed that Bitcoin symbolized a digital transformation of capital, which people are starting to accept. They then realize that they are underallocated.<\/p>\n