MicroStrategy Boosts Bitcoin Holdings With $590 Million Purchase, Totaling 174,530 BTC
2023年12月1日 - 4:00AM
NEWSBTC
In a testament to its unwavering confidence in Bitcoin (BTC),
MicroStrategy, one of the largest Bitcoin holding companies, has
once again expanded its cryptocurrency portfolio. The
company’s former CEO, Michael Saylor, announced the acquisition of
an additional 16,130 BTC, valued at approximately $593 million.
This strategic move comes as Bitcoin enters a phase of accumulation
above the $37,000 mark. MicroStrategy Adds To Bitcoin Stash As
announced, MicroStrategy’s latest purchase was made at an average
price of $36,700 per Bitcoin. With this acquisition, the company’s
total Bitcoin holdings now stand at an impressive 174,530
BTC. Throughout 2023 and previous years, MicroStrategy has
consistently demonstrated its commitment to BTC, accumulating a
substantial amount of the cryptocurrency. The total cost of
MicroStrategy’s Bitcoin investments exceeds $5.20 billion, with an
average purchase price of $30,252 per Bitcoin. This significant
investment reflects the company’s long-term bullish outlook on
Bitcoin’s potential as a store of value and hedge against
inflation. Related Reading: Bitcoin Whales Ready To Push Price
Above $40,000? Data Throws Clues As reported by NewsBTC, the
company has reaped substantial gains from the recent uptrend in the
overall cryptocurrency market and Bitcoin’s impressive price
surge. With BTC experiencing a 36% increase since October,
Microstrategy has now amassed over $1 billion in unrealized
profits. Notably, Bitcoin’s positive performance has directly
impacted Microstrategy’s stock, traded under the ticker name MSTR.
The stock has witnessed a significant surge in value, closely tied
to the ongoing bullish momentum of BTC. On November 9, as
Bitcoin reached its previous yearly high of $38,000, the price of
MSTR stock also soared to an all-time high (ATH) of $533 per share.
This milestone further proves Microstrategy’s successful investment
strategy over the past three years. Michael Saylor, a prominent
advocate for Bitcoin, has been a vocal proponent of the
cryptocurrency, emphasizing its superior qualities compared to
traditional fiat currencies. MicroStrategy’s continued
accumulation of Bitcoin reinforces Saylor’s conviction in its
long-term prospects and serves as a testament to the company’s
belief in the digital asset’s store-of-value properties. Potential
For Short-Term Pullback Looms In a recent market update by the
CryptoQuant author IT Tech, short-term insights on the Bitcoin
derivatives market shed light on the current upward momentum and
the potential for a minor pullback. According to the
analysis, the ongoing upward momentum in the Bitcoin market heavily
relies on perpetual movement. The rising price of Bitcoin has been
a key driving force, contributing to the bullish sentiment.
However, the Crypto Volatility Divergence (CVD) Spot indicator
suggests a relatively flat movement in spot demand. This indicates
that a significant increase in immediate spot demand may not
support the current price surge. Related Reading: Robinhood (HOOD)
Extends Trading Services To The UK In the absence of strong spot
demand materializing in the market, IT Tech suggests a possible
minor pullback in the near term. This potential pullback
could be attributed to several factors, including profit-taking by
traders or a lack of sustained buying pressure from spot investors.
The analysis also highlights the possibility of Bitcoin
liquidations in the short term, which could indicate further upward
movement to liquidate late short positions. This suggests
that additional buying pressure may be from those who have taken
short positions on Bitcoin. As these shorts are liquidated, it
could continue the upward trend. As of the latest update, Bitcoin
(BTC) is trading at $37,600, showing a slight decrease of 0.5% over
the past 24 hours. However, it has maintained a gain of 1.5% over
the past seven days, indicating a period of consolidation for the
cryptocurrency Featured image from Shutterstock, chart from
TradingView.com
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