Bitcoin

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MicroStrategy has <a href="https://www.microstrategy.com/content/dam/website-assets/collateral/financial-documents/financial-document-archive/form-8-k_12-27-2023.pdf">acquired</a> an additional 14,620 Bitcoins for approximately $615.7 million.&nbsp;
This purchase, which was announced earlier this Wednesday, was made at an average price of about $42,110 per Bitcoin, inclusive of fees and expenses.
The acquisition took place over a period from Nov. 30 to Dec. 26, involving MicroStrategy and its subsidiaries.&nbsp;
<h2 id="6-billion-bitcoin-fortune">$6 billion Bitcoin fortune</h2>
With this latest investment, MicroStrategy's total Bitcoin holdings now stand at approximately 189,150 Bitcoins, acquired at an aggregate purchase price of around $5.895 billion and an average price of approximately $31,168 per <a href="https://u.today/major-bitcoin-indicator-reaches-significant-resistance">Bitcoin</a>.
The price of the flagship cryptocurrency is currently sitting at $42,862, according to CoinGecko data. &nbsp;
This major investment follows a substantial <a href="https://u.today/593-million-bitcoin-btc-purchase-announced-by-microstrategy">purchase</a> made by MicroStrategy in November. The company had previously announced the acquisition of 16,130 Bitcoins, totaling about $593.3 million.
MicroStrategy began buying Bitcoin in August 2020. This marked the start of the company's strategic shift to adopt Bitcoin as a primary treasury reserve asset.
<h2 id="unfazed-by-bitcoin-etf-frenzy">Unfazed by Bitcoin ETF frenzy</h2>
In a recent Bloomberg <a href="https://www.bloomberg.com/news/articles/2023-12-19/bitcoin-etfs-won-t-be-a-threat-to-microstrategy-mstr-saylor-says">interview</a>, MicroStrategy's executive chair and cofounder Michael Saylor confidently stated that the advent of Bitcoin ETFs in the U.S. will not dampen the allure of MicroStrategy for investors keen on Bitcoin exposure.&nbsp;
Saylor's argument hinges on a unique value proposition: unlike the upcoming ETFs, which do not employ leverage or tack on fees, MicroStrategy offers a leveraged, no-fee route for those bullish on Bitcoin.
His strategy for MicroStrategy involves not just accumulating Bitcoin but also employing financial tactics like securing zero-interest loans to enhance its Bitcoin investment strategy.

Massive Bitcoin (BTC) Purchase Announced by MicroStrategy

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