MicroStrategy buys an additional 14,620 BTC for $615.7 million

MicroStrategy led by Bitcoin advocate Michael Saylor, has confirmed its ongoing commitment to Bitcoin accumulation as speculation swirls around the potential approval of a spot Bitcoin ETF in the United States.

MicroStrategy disclosed a significant purchase of Bitcoin between November 20, 2023, and December 26, 2023, in its most recent 8-K filing with the US Securities and Exchange Commission.

MicroStrategy and its subsidiaries acquired an additional 14,620 BTC for a total of $615.7 million in cash during this period.

The cost of one Bitcoin, including fees, was nearly $42,110. This strategic acquisition comes on the heels of MicroStrategy’s significant purchase of 16,130 Bitcoin in November 2023 for $36,785 per Bitcoin.

With this latest purchase, MicroStrategy and its subsidiaries now own 189,150 BTC in total. The total purchase price of these Bitcoin holdings is nearly $5.9 billion, with an average purchase price of around $31,168 per BTC.

Michael Saylor, co-founder of MicroStrategy and an outspoken supporter of Bitcoin, has consistently expressed his commitment to amassing the digital asset. This dedication can be seen in the company’s year-long purchases of Bitcoin.

MicroStrategy’s recent Bitcoin acquisition aligns with the broader cryptocurrency community’s anticipation of the Securities and Exchange Commission’s (SEC) potential approval of a spot Bitcoin ETF.

The 10th of January is a significant date, with many anticipating a decision that could open up previously restricted Bitcoin investment avenues for institutional and individual investors.

According to Michael Saylor, the introduction of a spot Bitcoin ETF could be the “biggest development on Wall Street in 30 years.”

An approval of this type would allow a new wave of investors to gain access to Bitcoin, potentially driving further growth in the crypto market.