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 <p class="is-style-lead">Michael Saylor’s MicroStrategy now holds some 189,150 Bitcoin worth over $8 billion as of Dec. 27.</p>
 <p>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.&nbsp;</p>
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    <p lang="en" dir="ltr">MicroStrategy has acquired an additional 14,620 BTC for ~$615.7 million at an average price of $42,110 per #bitcoin. As of 12/26/23, @MicroStrategy now hodls 189,150 $BTC acquired for ~$5.9 billion at an average price of $31,168 per bitcoin. $MSTR https://t.co/PKfYY59sTW</p>— Michael Saylor️ (@saylor) December 27, 2023
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 <p>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.</p>
 <p>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.</p>
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 <p>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.</p>
 <p>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.</p>
 <p>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.</p>
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   Bitcoin price on Dec. 27 | Source: CoinMarketCap
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Experts: Final lap before spot Bitcoin ETF in play
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/microstrategy-adds-620m-bitcoin-to-massive-btc-stash-tbt74921.html">https://thebittimes.com/microstrategy-adds-620m-bitcoin-to-massive-btc-stash-tbt74921.html</a></p>

MicroStrategy adds $620m Bitcoin to massive BTC stash

TheBitTimes

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