Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
MicroStrategy, the largest corporate owner of Bitcoin, has increased its reserves by an additional 5,262 BTC, investing $561 million at an average price of $106,662 per Bitcoin.
In a post on X this Monday, MicroStrategy co-founder Michael Saylor indicated that this recent acquisition elevates the company’s total holdings to a notable 444,262 BTC, amassed at an average cost of $62,257 per Bitcoin.
“As of 12/22/2024, we hodl 444,262 $BTC acquired for ~$27.7 billion at ~$62,257 per bitcoin,” he stated.
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
— Michael Saylor
(@saylor) December 23, 2024
MicroStrategy to Join Nasdaq 100 Index
This announcement coincides with MicroStrategy’s upcoming inclusion in the Nasdaq 100 index on December 23, 2024.
This addition positions the company among the top 100 largest corporations on the Nasdaq by market capitalization, providing indirect Bitcoin exposure to stock investors, including those invested in the Invesco QQQ Trust (QQQ), an ETF managing assets valued at $322 billion.
Alongside its expanding Bitcoin reserves, MicroStrategy has implemented notable changes in its leadership structure.
New board members include Brian Brooks, former CEO of Binance.US and U.S. Comptroller of the Currency; Jane Dietze, a board member at Galaxy Digital; and Gregg Winiarski from Fanatics Holdings.
These appointments signify the company’s strategic focus as a Bitcoin-oriented organization.
Related Posts
Michael Saylor, the co-founder and prominent Bitcoin supporter, continues to maintain a positive outlook.
Saylor has previously indicated that MicroStrategy plans to purchase Bitcoin at peak prices throughout the asset’s lifecycle.
In a discussion with Yahoo Finance, he speculated on future acquisitions, envisioning purchases of up to $1 billion daily if Bitcoin reaches $1 million per coin.
Saylor Supports Trump’s Strategic Bitcoin Reserve
As reported, Saylor has shown strong endorsement for President-elect Donald Trump’s initiative to create a strategic Bitcoin reserve.
Outlined in his “Digital Assets Framework” policy released on Friday, the proposal presents a strategy for the United States to promote growth in the digital asset sector, establish clear compliance standards, and ensure defined rights for crypto asset holders and businesses.
Saylor emphasized the necessity for the U.S. to lead the global digital economy through advancements in digital assets.
“By establishing a clear taxonomy, a legitimate rights-based framework, and practical compliance obligations, the United States can lead the global digital economy,” he remarked.
He further noted that such initiatives could unlock trillions of dollars in wealth, empower millions of enterprises, and reinforce the U.S. dollar’s position as the foundation of the digital financial system.
While Saylor did not disclose the reserve’s size, he suggested it could generate wealth ranging from $16 to $81 trillion, potentially eliminating the U.S. national debt of $36 trillion.
The post MicroStrategy Acquires 5,262 BTC for $561M, Total Holdings Reach 444,262 BTC appeared first on Cryptonews.
