Bitcoin
Bitcoin (BTC)
$58,684.00 1.64778
Bitcoin price
Ethereum
Ethereum (ETH)
$3,160.32 0.82403
Ethereum price
BNB
BNB (BNB)
$529.76 -0.68759
BNB price
Solana
Solana (SOL)
$139.86 0.69899
Solana price
XRP
XRP (XRP)
$0.5455650 16.7716
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000172 4.65075
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000087 -0.454
Pepe price
Bonk
Bonk (BONK)
$0.0000223 -0.58677
Bonk price
Bitcoin
Bitcoin (BTC)
$58,684.00 1.64778
Bitcoin price
Ethereum
Ethereum (ETH)
$3,160.32 0.82403
Ethereum price
BNB
BNB (BNB)
$529.76 -0.68759
BNB price
Solana
Solana (SOL)
$139.86 0.69899
Solana price
XRP
XRP (XRP)
$0.5455650 16.7716
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000172 4.65075
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000087 -0.454
Pepe price
Bonk
Bonk (BONK)
$0.0000223 -0.58677
Bonk price
Bitcoin
Bitcoin (BTC)
$58,684.00 1.64778
Bitcoin price
Ethereum
Ethereum (ETH)
$3,160.32 0.82403
Ethereum price
BNB
BNB (BNB)
$529.76 -0.68759
BNB price
Solana
Solana (SOL)
$139.86 0.69899
Solana price
XRP
XRP (XRP)
$0.5455650 16.7716
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000172 4.65075
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000087 -0.454
Pepe price
Bonk
Bonk (BONK)
$0.0000223 -0.58677
Bonk price
Bitcoin
Bitcoin (BTC)
$58,684.00 1.64778
Bitcoin price
Ethereum
Ethereum (ETH)
$3,160.32 0.82403
Ethereum price
BNB
BNB (BNB)
$529.76 -0.68759
BNB price
Solana
Solana (SOL)
$139.86 0.69899
Solana price
XRP
XRP (XRP)
$0.5455650 16.7716
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000172 4.65075
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000087 -0.454
Pepe price
Bonk
Bonk (BONK)
$0.0000223 -0.58677
Bonk price

MicroStrategy adds $620m Bitcoin to massive BTC stash

microstrategy-adds-620m-bitcoin-to-massive-btc-stash
Edited by
News
MicroStrategy adds $620m Bitcoin to massive BTC stash

Michael Saylor’s MicroStrategy now holds some 189,150 Bitcoin worth over $8 billion as of Dec. 27.

MicroStrategy bought an additional 14,620 Bitcoin (BTC) at an average price of $42,110 per coin, according to Michael Saylor, who founded the company back in 1989. Saylor’s firm spent $615.7 million acquiring its latest BTC purchase. 

The company started buying BTC in 2020 following a global pandemic as Saylor sought to mitigate what he called “the eroding threat of inflation”. MicroStrategy has injected roughly $5.9 billion into Bitcoin since then.

Saylor’s investment strategy means the company has made around $2 billion in profits on its BTC portfolio by acquiring crypto’s top token through a mix of cash, debt, and equity. Investing in BTC has also been a boon for MicroStrategy’s stock. According to Google Finance, the company’s stock gained over 300% in 2023 alone and traded for $603.89 at press time.

The decision to double down on Bitcoin coincides with multiple applications from Wall Street stalwarts and crypto-native asset managers seeking approval for a spot BTC ETF, an exchange-traded fund that would hold the crypto and offer Bitcoin exposure to American investors.

13 filers including BlackRock, Hashdex, and ARK 21Shares submitted bids with the U.S. Securities and Exchange Commission (SEC). It is unknown if the SEC will approve these applications, although the watchdog has engaged firms concerning their filings, which has prompted amendments and fueled speculation that spot BTC ETFs may finally be approved in America.

Saylor opined that spot Bitcoin ETFs could become a watershed moment for traditional finance and the crypto industry if approvals arrive. ETF experts and speculators alike believe a decision will be made in early January 2024, about three months before BTC’s halving event in April.

Bitcoin price on Dec. 27
Bitcoin price on Dec. 27 | Source: CoinMarketCap