As 2023 draws to a close, MicroStrategy has made a significant addition to its Bitcoin holdings. The business intelligence firm, led by Michael Saylor, has purchased an additional 14,620 Bitcoins, totaling approximately $615.7 million. This acquisition further cements MicroStrategy’s position as the largest corporate holder of Bitcoin.<\/p>\n\n\n\n
MicroStrategy’s Ongoing Bitcoin Strategy<\/strong><\/p>\n\n\n\n The recent purchase was made at an average price of $42,110 per Bitcoin. As of December 26, 2023, MicroStrategy’s Bitcoin portfolio includes 189,150 BTC, acquired at an aggregate cost of about $5.9 billion, averaging $31,168 per Bitcoin. This move is part of the company’s strategy to use Bitcoin as a long-term treasury reserve asset.<\/p>\n\n\n\n Market Context and Previous Investments<\/strong><\/p>\n\n\n\n This acquisition comes as Bitcoin’s price stands at $42,934, following a 16% increase over the month. Notably, just a month earlier, MicroStrategy invested $600 million to buy 16,130 BTC at an average price of $36,785 per Bitcoin.<\/p>\n\n\n\n Profit and Recovery<\/strong><\/p>\n\n\n\n 2023 marked a year of recovery for MicroStrategy, which reported over $1 billion in unrealized profits from Bitcoin. This was a significant turnaround from 2022, when the company faced a $1 billion loss. The latest purchase boosts the company’s profit from its Bitcoin investment to approximately $2.21 billion.<\/p>\n\n\n\n Michael Saylor’s Bitcoin Advocacy<\/strong><\/p>\n\n\n\n Despite market volatility and the downturn experienced in 2022, CEO Michael Saylor has remained a steadfast supporter of Bitcoin. He has predicted a substantial increase in Bitcoin’s value by 2024, citing factors like the upcoming Bitcoin halving and the potential approval of a spot Bitcoin ETF.<\/p>\n\n\n\n MicroStrategy’s aggressive investment in Bitcoin showcases its belief in the digital asset’s long-term value and its commitment to integrating Bitcoin into its treasury operations. This strategy reflects a growing trend among corporations to diversify their asset holdings with cryptocurrency investments.<\/p>","protected":false},"excerpt":{"rendered":" As 2023 draws to a close, MicroStrategy has made a significant addition to its Bitcoin holdings.<\/p>","protected":false},"author":1,"featured_media":3879,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[35,44,31],"class_list":["post-3878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitocin","tag-blockchain","tag-stoneblock"],"_links":{"self":[{"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/posts\/3878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/comments?post=3878"}],"version-history":[{"count":1,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/posts\/3878\/revisions"}],"predecessor-version":[{"id":3880,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/posts\/3878\/revisions\/3880"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/media\/3879"}],"wp:attachment":[{"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/media?parent=3878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/categories?post=3878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/tags?post=3878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}