MicroStrategy Bitcoin Purchases Surpass 2021 Levels
24 Dec, 2024 ● Coin news
MicroStrategy’s Bitcoin acquisitions have now exceeded the peak levels recorded during the 2021 bull market, with its November and December 2024 purchases notably outpacing earlier buys this year.
According to Saylortracker, the company purchased 27,200 BTC on Nov. 10, 2024, at an average price of approximately $74,000 per Bitcoin.
This was followed by a 51,780 BTC acquisition on Nov. 17 and a record-breaking purchase of 55,500 BTC on Nov. 24, at roughly $97,000 per coin.
During the 2020–2021 bull run, MicroStrategy’s largest Bitcoin buy was 29,646 BTC on Dec. 21, 2020, when Bitcoin traded near $21,000.
MicroStrategy’s Bitcoin treasury strategy has encouraged other companies to adopt similar approaches, with many traders viewing it as a bullish signal.
By attracting institutional capital and liquidity from the stock market into Bitcoin, the company’s actions are seen as a major price catalyst for the cryptocurrency.
On Dec. 23, 2024, MicroStrategy will join the Nasdaq 100 index, which tracks the 100 largest companies by market capitalization listed on the Nasdaq exchange.
This move will indirectly provide stock investors, including holders of the Invesco QQQ Trust ETF (QQQ) — which manages approximately $322 billion in assets — with exposure to Bitcoin.
Following its inclusion in the Nasdaq 100, MicroStrategy has expanded its board of directors, appointing high-profile executives, including former Binance.US CEO Brian Brooks, Galaxy Digital board member Jane Dietze, and Gregg Winiarski from Fanatics Holdings.
Brian Brooks, who served as the United States Comptroller of the Currency in 2021 under the Biden administration, oversaw the US banking system during his tenure.
MicroStrategy co-founder Michael Saylor has repeatedly expressed his commitment to acquiring Bitcoin at any price point, emphasizing his long-term outlook for the asset.
“I am sure that I will be buying Bitcoin at $1 million a coin — probably $1 billion dollars a day of Bitcoin at $1 million a coin,” Saylor told Yahoo Finance in an earlier interview.
Sources:
https://cointelegraph.com/news/micro-strategy-bitcoin-purchases-surpass-2021-bull-market
