MicroStrategy has made another significant Bitcoin (BTC) acquisition, purchasing 15,350 BTC for $1.5 billion. Such institutional influx has been prompting traders and analysts to look for further uptrend for BTC price.
MicroStrategy Adds More Bitcoin to Treasury
According to a press release, MicroStrategy’s purchase was made at an average price of $100,386 per Bitcoin. This marks the company’s sixth Bitcoin purchase in as many weeks, further cementing its position as the largest publicly traded Bitcoin holder.
The company’s Bitcoin holdings now stand at 439,000 BTC, acquired at a total cost of $27.1 billion. The average price for all acquisitions amounts to $61,725 per Bitcoin. With this, MicroStrategy controls over 2% of the total Bitcoin supply. The company has consistently expanded its Bitcoin reserves since implementing its Bitcoin Strategy in August 2020 under the leadership of its co-founder, Michael Saylor.
MicroStrategy has acquired 15,350 BTC for ~$1.5 billion at ~$100,386 per #bitcoin and has achieved BTC Yield of 46.4% QTD and 72.4% YTD. As of 12/15/2024, we hodl 439,000 $BTC acquired for ~$27.1 billion at ~$61,725 per bitcoin. $MSTR https://t.co/SaWLNBVkrl
— Michael Saylor⚡️ (@saylor) December 16, 2024
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Last week, MicroStrategy acquired 21,550 BTC for $2.1 billion, continuing its aggressive accumulation. This strategy aligns with its focus on leveraging Bitcoin as a store of value. The company’s stock performance has also mirrored this approach. Data from MarketWatch shows MicroStrategy’s stock (MSTR) has risen by over 540% year-to-date (YTD), driven largely by its exposure to Bitcoin.
The company has also reached a significant milestone by being added to the Nasdaq-100 index. Analysts attribute this achievement to MicroStrategy’s BTC-focused strategy, which has contributed to its notable financial performance.
BTC Price to Surge?
Meanwhile, Bitcoin continues to see increasing interest from institutional players, with the number of large-scale investors, commonly referred to as Bitcoin whales, rising significantly. Crypto analyst Ali Martinez has noted a sharp increase in the number of Bitcoin whales on the network since Donald Trump secured his position as the U.S. president-elect.
In parallel, BTC price has reached unprecedented levels, recently hitting a new all-time high (ATH) of $106,000. Market optimism surrounding the establishment of a Strategic Bitcoin Reserve under the Trump administration is seen as a contributing factor to the bullish sentiment. Hence, analysts expect a new Bitcoin ATH soon with Martinez offering a target of $135,000 in the short-term.
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