MicroStrategy, a Nasdaq-listed company, has purchased 14,620 additional bitcoins for approximately $615.7 million. The recent acquisition increased the company’s cryptocurrency holdings to 189,150 bitcoins, which were purchased for almost $5.9 billion at an average price of $31,168 per coin.

Spot bitcoin exchange-traded funds (ETFs), according to Michael Saylor, executive chairman of Microstrategy, “may be the biggest development on Wall Street in the last 30 years.”

Now is the time for MicroStrategy. Contains 189,150  “Nasdaq”

Microstrategy (Nasdaq: MSTR) stated Wednesday that it has purchased further bitcoin. Michael Saylor, the company’s executive chairman, revealed on the social media platform X on Wednesday:

Microstrategy has purchased 14,620 BTC for $615.7 million at an average price of $42,110 per bitcoin. As of 12/26/23, Microstrategy has 189,150 BTC in its possession, purchased for $5.9 billion at an average price of $31,168 per bitcoin.

The additional coins were purchased between Nov. 30 and Dec. 26, according to the company’s statement with the Securities and Exchange Commission (SEC).

Saylor revealed on December 17 that the price of bitcoin had increased by 253% since his organization implemented the bitcoin strategy on August 10, 2020. In comparison, the S&P 500 increased by 40%, while the Nasdaq increased by 35%. Notably, gold stayed price stable over this period, whereas silver fell 14% and bonds fell 18%.

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The executive chairman of Microstrategy recently stated that his company’s bitcoin strategy “seeks to maximize long-term value” for shareholders. According to him, Bitcoin is “a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.”

Furthermore, Saylor recently remarked that Bitcoin “represents the digital transformation of capital” and that “everyone is beginning to realize that they are underallocated.” The previous week, he remarked that spot bitcoin exchange-traded funds (ETFs) “may be the biggest development on Wall Street in the last 30 years.”

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