1. MicroStrategy adds 3,000 BTC to its holdings, spending $155.4 million and reaching a total of 193,000 BTC.
2. Despite a current valuation of $10.28 billion, MicroStrategy, remains steadfast in holding its Bitcoin reserves for the long term.
3. The aligns with the post-ETF market rally, and anticipation for the upcoming Bitcoin halving in April.
MicroStrategy, has expanded its cryptocurrency holdings with the acquisition of an additional 3,000 BTC. The company spent approximately $155.4 million in cash over the last ten days. Further, pushing its total Bitcoin stash to an impressive 193,000 BTC, as revealed in a U.S. federal government filing.
MicroStrategy’s co-founder and executive chairman, Michael Saylor, shared on Twitter that the company has invested around $6.09 billion in Bitcoin to date.
With the current Bitcoin price at $53,283, the firm’s BTC position is now at $10.28 billion. This is reflecting a significant profit of over $4.19 billion. Despite this substantial gain, Saylor reiterated his commitment to holding MicroStrategy’s Bitcoin reserves for the long term, emphasizing, “Bitcoin is the exit strategy.”
Riding the Post-ETF Rally
The comes with historic approval of spot Bitcoin ETFs on Wall Street, contributing to the broader market rally. MicroStrategy’s BTC position, initially acquired at an average price of $31,544 per Bitcoin. It has not only recovered from losses but has surged into considerable profitability.
The upcoming Bitcoin halving in April, set to reduce new BTC generation by 50%, is fueling optimism about further price appreciation. Michael Saylor believes that Bitcoin’s diminishing supply, coupled with growing institutional demand through financial products like ETFs, will soon elevate it to a “trillion-dollar asset class,” competing with established names like Apple, Google, and Microsoft.
In recent months, MicroStrategy’s strategic Bitcoin acquisitions include a January purchase of 850 BTC for $37.5 million and a December acquisition of approximately $616 million for 14,620 BTC. The company’s consistent accumulation reflects a steadfast belief in Bitcoin’s long-term potential, underlining its role as a strategic asset in MicroStrategy’s portfolio.
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