MicroStrategy Adds 14,620 BTC to Holdings with $615.7 Million Purchase

MicroStrategy, led by Bitcoin advocate Michael Saylor, reaffirms its commitment to Bitcoin accumulation amid speculation surrounding the potential approval of a spot Bitcoin ETF in the United States. In a recent 8-K filing with the US Securities and Exchange Commission, MicroStrategy disclosed a significant Bitcoin purchase between November 20, 2023, and December 26, 2023.

During this period, MicroStrategy and its subsidiaries acquired an additional 14,620 BTC, amounting to $615.7 million in cash. The cost of one Bitcoin, including fees, stood at nearly $42,110. This strategic move follows MicroStrategy’s substantial acquisition of 16,130 Bitcoin in November 2023 at $36,785 per Bitcoin.

With this latest purchase, MicroStrategy’s total Bitcoin holdings, including subsidiaries, now amount to 189,150 BTC. The cumulative purchase price for these Bitcoin holdings is approximately $5.9 billion, with an average acquisition cost of around $31,168 per BTC.

Michael Saylor, co-founder of MicroStrategy and a prominent Bitcoin supporter, has consistently emphasized his dedication to accumulating the digital asset. MicroStrategy’s ongoing Bitcoin purchases align with the broader anticipation in the cryptocurrency community regarding the potential approval of a spot Bitcoin ETF by the Securities and Exchange Commission (SEC).

The community awaits a decision on January 10, with expectations that it could open up new Bitcoin investment avenues for both institutional and individual investors. Michael Saylor believes that the introduction of a spot Bitcoin ETF could be the “biggest development on Wall Street in 30 years.” If approved, it could pave the way for a new wave of investors, potentially driving further growth in the crypto market.

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