MicroStrategy Raises Stakes, Acquires $1.5 Billion In Bitcoin Amid Positive Market Outlook

Name	Symbol	Market	Market Cap ($)	Algorithm
Flow	FLOWUSD	Crypto	1,086,013,317	Unknown

Name

Symbol

Market

Market Cap ($)

Algorithm

Flow

FLOWUSD

Crypto

1,086,013,317

Unknown

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.041	-5.51%	0.703	0.703	0.704

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.041

-5.51%

0.703

0.704

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.789	0.703	0.747	0.744	0.440000 - 1.70

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.789

0.703

0.747

0.744

0.440000 - 1.70

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	13:31:06	1.80	0.703	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

13:31:06

1.80

0.703

USD

Price x Volume	Volume	Base Symbol	Related Pairs
201,980.16	268,393.13	FLOW	FLOWEUR	FLOWGBP	FLOWBTC

Price x Volume

Volume

Base Symbol

Related Pairs

201,980.16

268,393.13

MicroStrategy Raises Stakes, Acquires $1.5 Billion In Bitcoin Amid Positive Market Outlook

17/12/2024 1:00am

NEWSBTC

MicroStrategy, the business intelligence firm led by Michael Saylor, has ramped up its Bitcoin (BTC) acquisition strategy for the sixth consecutive week. This latest purchase comes as BTC has surged to new all-time highs, with the leading cryptocurrency recently surpassing the $106,00 mark on Monday. MicroStrategy’s Bitcoin Stash Grows To 439,000 BTC On Monday, Michael Saylor announced that MicroStrategy acquired an additional 15,350 BTC for approximately $1.5 billion, averaging around $100,386 per Bitcoin. This acquisition contributes to the firm’s substantial Bitcoin portfolio, which now totals 439,000 BTC, purchased for about $27.1 billion at an average price of $61,725 per Bitcoin. Related Reading: Solana (SOL) Faces Headwinds: Can Bulls Revive Momentum? Interestingly, Saylor also disclosed in a social media post on X (formerly Twitter) that the firm’s Bitcoin holdings have yielded notable returns, boasting a 46.4% gain quarter-to-date (QTD) and 72.4% gain year-to-date (YTD). This bullish momentum in the market follows increased optimism since November 5, when President-elect Donald Trump secured a new term in the White House with key promises made throughout the year to the industry. Investors are now confident that Trump’s new administration would make regulatory changes that could create a more favorable climate for digital assets. The US crypto market has encountered considerable difficulties in recent years, particularly from the US Securities and Exchange Commission (SEC). Microstrategy’s MSTR Rises 3% On Nasdaq 100 News The recent uptick in Bitcoin’s price is further evidenced by a significant trading volume increase, with CoinGecko reporting a $92 million surge in the past 24 hours—a 54% increase compared to the previous day. However, MicroStrategy’s aggressive Bitcoin investment strategy has not only influenced the cryptocurrency market but has also positively affected its stock (MSTR) price. Following the announcement that MicroStrategy would be listed on the Nasdaq 100 index last week, shares of the company rose over 3% in premarket trading. Related Reading: Ex-Hedge Fund Guru Bets Big On Dogecoin As ‘Core Crypto Bet’ The inclusion in the Nasdaq 100—a benchmark for technology stocks—takes effect on December 23 and is expected to attract significant investment flows, potentially leading to $2.1 billion in stock purchases from over 200 exchange-traded products that track the index. Bernstein analyst Gautam Chhugani remarked on Monday that MicroStrategy’s strategy to Bitcoin purchase is “unprecedented,” establishing the company as the largest corporate Bitcoin owner, with around 2% of the total supply. Chhugani commented: MSTR’s Bitcoin buying program is unprecedented on the street, and inclusion in Nasdaq 100 further improves MSTR’s market liquidity, expanding its capital flywheel and Bitcoin buying program. At the time of writing, BTC has managed to consolidate at $103,900 for the past few hours after surging to new all-time highs. The market’s leading crypto recorded gains of 2% and nearly 6% in the 24-hour and weekly time frames, respectively. Featured image from DALL-E, chart from TradingView.com

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