MicroStrategy, the world’s largest corporate holder of bitcoin, has made its eighth consecutive Monday purchase, allocating $209 million to acquire 2,136 BTC. This latest purchase brings the company’s total stash to over 446,000 BTC, acquired for approximately $27.9 billion at an average price of $62,428 per bitcoin.
Accumulation Phase Continues
MicroStrategy’s latest purchase is part of its ongoing accumulation phase, which has seen the company invest heavily in bitcoin over the past few months. Despite a recent decline in bitcoin’s price, the company’s holdings have a current value of $41.5 billion, resulting in an unrealized profit of over $13 billion.
Peter Schiff Criticizes MicroStrategy’s Purchases
Not everyone is convinced that MicroStrategy’s purchases are driving up the price of bitcoin. Peter Schiff, a well-known critic of bitcoin, has claimed that the company’s purchases are the only thing keeping the asset’s price rising. However, Schiff has also acknowledged that MicroStrategy’s latest purchase is smaller than previous ones and may not be enough to sustain the price.
Bitcoin Price Decline
Bitcoin’s price has declined in recent weeks, falling from over $108,000 to its current level of $93,000. This decline has been attributed to a number of factors, including the latest FOMC meeting for the year.
MicroStrategy’s Holdings
As of December 29, 2024, MicroStrategy’s holdings consist of 446,400 BTC, acquired for approximately $27.9 billion at an average price of $62,428 per bitcoin. The company’s holdings have a current value of $41.5 billion, resulting in an unrealized profit of over $13 billion.
Source: Cryptopotato.com
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