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MicroStrategy Adds 14,620 BTC Pre-ETF, Hits 189,150 BTC at $42,110

In a strategic move underscoring its bullish stance on Bitcoin, business intelligence giant MicroStrategy has yet again bolstered its crypto reserves. The firm, along with its subsidiaries, has solidified its crypto holdings by purchasing an additional 14,620 BTC for a staggering $615.7 million in cash. This acquisition, disclosed via an official 8-K filing with the U.S. Securities and Exchange Commission, marks a significant step in MicroStrategy’s ongoing accumulation of the flagship cryptocurrency.

The latest procurement, executed between November 20, 2023, and December 26, 2023, comes at an average cost of approximately $42,110 per Bitcoin, encompassing associated fees and expenses, as stated in the filing. This move intensifies MicroStrategy’s total Bitcoin holdings to a substantial 189,150 bitcoins, totaling around $5.9 billion in accumulated investment. The firm’s average purchase price per BTC stands at an impressive $31,168, indicating a strategic accumulation over various procurement phases.

This significant purchase is part of a series of substantial Bitcoin acquisitions by MicroStrategy, with recent noteworthy acquisitions of 16,130 BTC in November at $36,785 per Bitcoin, 6,067 BTC in September and October, and a purchase of 12,333 BTC in June, further solidifying the company’s position as a major Bitcoin proponent.

MicroStrategy’s persistent investment strategy aligns seamlessly with the vision of its co-founder and renowned Bitcoin advocate, Michael Saylor. Saylor has consistently advocated for Bitcoin as a viable long-term investment, emphasizing its potential as a store of value and a hedge against inflation.

What adds intrigue to MicroStrategy’s continued Bitcoin accumulation is the timing. The latest purchase closely precedes an eagerly awaited event in the crypto community: January 10. Speculation runs rife that this could mark the approval of a spot Bitcoin exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC).

Saylor has expressed profound optimism regarding the significance of a spot Bitcoin ETF’s potential approval, deeming it possibly the “biggest development on Wall Street in 30 years.” Anticipation is high as such an ETF could potentially open the floodgates for mainstream retail and institutional investors who have been previously hindered from direct exposure to Bitcoin.

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