{"id":25458,"date":"2024-12-31T03:43:18","date_gmt":"2024-12-31T03:43:18","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=25458"},"modified":"2024-12-31T03:43:18","modified_gmt":"2024-12-31T03:43:18","slug":"microstrategy-expands-its-bitcoin-hoard-with-new-acquisition-of-2138-btc","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/microstrategy-expands-its-bitcoin-hoard-with-new-acquisition-of-2138-btc\/","title":{"rendered":"MicroStrategy Expands Its Bitcoin Hoard with New Acquisition of 2,138 BTC"},"content":{"rendered":"\n

MicroStrategy is actively expanding its Bitcoin (BTC) portfolio, having acquired 2,138 BTC for $209 million in its most recent transaction, which has brought its total BTC holdings to 446,400.<\/p>\n

<\/span>MicroStrategy’s Continuous Bitcoin Acquisitions in 2024<\/span><\/h2>\n

In a recent statement<\/a>, the US-based firm announced it had further increased its Bitcoin reserves. The acquisition of 2,138 BTC took place between December 23 and December 29, with an average purchase price of $97,837 per BTC.<\/p>\n

MicroStrategy financed this acquisition by selling 592,987 shares, raising $209 million in cash. This marks the eighth week in a row that the company has added to its Bitcoin holdings.\u00a0<\/p>\n

CEO Michael Saylor hinted at the purchase on social media by sharing a chart called the \u201cSaylor Tracker<\/a>,\u201d which shows the company’s Bitcoin buying history. He indicated some \u201cworrying\u201d trends on the tracker, suggesting a potential Bitcoin purchase was imminent.<\/p>\n

Furthermore, the company disclosed a BTC yield\u2014an indicator of the investment performance of its Bitcoin\u2014of 74.1% year-to-date (YTD) as of December 30. For the quarter from October 1 to December 29, the BTC yield was 47.8%, indicating substantial growth in the final months of the year.<\/p>\n

Despite this proactive buying, MicroStrategy’s stock didn’t see a corresponding increase, decreasing by 5.19% on the day of the announcement. However, the stock has experienced a remarkable 395% increase over the year, surpassing gains for both Bitcoin and the S&P 500.<\/p>\n

<\/p>\n

Saylor, a known Bitcoin advocate, has stated his commitment to buying Bitcoin \u201cat the top\u201d indefinitely. He boldly claimed that he would continue these purchases even if Bitcoin reached $1 million. He has also encouraged people to switch from gold to Bitcoin, promoting it as a far superior asset. Saylor’s previous remarks include:<\/p>\n

\n

Get rid of your gold. Sell all the US gold, [and] buy Bitcoin, then you\u2019ll get a great deal because you could acquire 5 million Bitcoin for the cost of the gold. This action would devalue gold entirely, while our assets could skyrocket in value.<\/p>\n<\/blockquote>\n

<\/span>2024: A Pivotal Year for Bitcoin Adoption<\/span><\/h2>\n

The year 2024 has been crucial for Bitcoin’s institutional adoption. In January, the US Securities and Exchange Commission (SEC) approved spot Bitcoin exchange-traded funds (ETFs), facilitating easier access for institutional investors to Bitcoin.<\/p>\n

Additionally, an October survey revealed that 72% of institutional investors expressed interest in investing in digital assets, increasing Bitcoin’s overall attractiveness. As of the latest updates, BTC is priced at $91,779, reflecting a decrease of 3.2% in the last 24 hours.<\/p>\n

\"bitcoin\"<\/p>\n","protected":false},"excerpt":{"rendered":"

MicroStrategy is actively expanding its Bitcoin (BTC) portfolio, having acquired 2,138 BTC for $209 million in its most recent transaction, which has brought its total BTC holdings to 446,400. MicroStrategy’s Continuous Bitcoin Acquisitions in 2024 In a recent statement, the US-based firm announced it had further increased its Bitcoin reserves. The acquisition of 2,138 BTC […]<\/p>\n","protected":false},"author":14,"featured_media":25459,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"MicroStrategy Expands Its Bitcoin Hoard with New Acquisition of 2,138 BTC - Bitrabo","description":"MicroStrategy is actively expanding its Bitcoin (BTC) portfolio, having acquired 2,138 BTC for $209 million in its most recent transaction, which has brought it"},"footnotes":""},"categories":[316],"tags":[3923,448,449,537,2164,1285,7306],"class_list":["post-25458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-adds","tag-bitcoin","tag-btc","tag-latest","tag-microstrategy","tag-purchase","tag-stacking"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/25458","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=25458"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/25458\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/25459"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=25458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=25458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=25458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}