Nasdaq-listed business intelligence firm again purchased Bitcoin at an all-time high price but failed to impact the sentiments in the Bitcoin market.
Microstrategy is a business intelligence firm that trades on the Nasdaq exchange under the ticker $MSTR. This company has been buying Bitcoin continuously since 2020 under the leadership of its co-founder & executive chairman, Michael Saylor.
On 23 Dec 2024, Michael Saylor informed the Bitcoin community that his company purchased a new stash of Bitcoin at a trade price of $106,662.
With this latest buying company purchased a net 5,262 BTC for $561 million. Now, this company holds a net 444,262 BTC with a net $14.5 billion unrealised gain.
MicroStrategy has acquired 5,262 BTC for ~$561 million at ~$106,662 per bitcoin and has achieved BTC Yield of 47.4% QTD and 73.7% YTD. As of 12/22/2024, we hodl 444,262 $BTC acquired for ~$27.7 billion at ~$62,257 per bitcoin. $MSTR https://t.co/asDGerBV7q
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— Michael Saylor⚡️ (@saylor) December 23, 2024
Popular Bitcoin critic Peter Schiff asked how the company purchased Bitcoin above the actual trade price of Bitcoin for the same day.
Bitcoin hater also speculated that the company is probably now running out of funds, as the company purchased less amount of Bitcoin this time.
Bitcoin price action
The current trade price of Bitcoin is $94,760 & this price level is 10% down over the last 7 days period.
Notably the trade price of Bitcoin is -12.5% down from the trade price at which Microstrategy purchased Bitcoins.
Bitcoin spot ETF products to the next level
Notably, in the last 7 days, only 3,150 BTC was mined globally via miners, but in the same period, BlackRock purchased 13,699 BTC on behalf of the BTC spot ETF (IBIT) buyers, which is 4 times more than the amount of Bitcoin mined.
Just a few days ago, Hester Peirce, a crypto-friendly commissioner at the United States Securities and Exchange Commission (SEC), suggested some innovative developments around Bitcoin Spot ETF products regarding redemption.
The crypto-friendly SEC commissioner believes people will be able to redeem their BTC spot ETF funds to actual Bitcoin directly in their private Bitcoin wallet from next year.
Read also: Michael Saylor suggests Amazon founder Jeff Bezos to invest in Bitcoin
Microstrategy buys 5,262 $BTC at a $106k+ price level, but Bitcoin price remains calm!
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