MicroStrategy’s recent Bitcoin (BTC) purchases have surpassed their previous records set during the 2021 bull market. Not only are their purchases more frequent but also larger in terms of quantity compared to their acquisitions last year. According to data from Saylortracker, they bought 27,200 BTC on November 10th for about $74,000 per coin.
This was followed by two more significant purchases – 51,780 BTC on November 17th and their largest acquisition ever of 55,500 BTC on November 24th at around $97,000 per coin. During the 2020-2021 bull run, their biggest purchase was 29,646 Bitcoin on December 21st when it was trading around $21,000 per coin.
This aggressive buying strategy has not gone unnoticed, as it has inspired other companies to start allocating part of their treasuries to Bitcoin as well. Many believe this could be a positive price catalyst for Bitcoin, drawing institutional capital away from the stock market and into cryptocurrencies.
As for MicroStrategy itself, they will soon join the ranks of some of the most valuable companies on the Nasdaq 100 index due to their significant Bitcoin holdings. This move could expose more traditional investors to cryptocurrencies through ETFs like Invesco QQQ Trust, which manages over $322 billion in assets.
Additionally, MicroStrategy recently added several high-profile executives to their board of directors, including former Binance.US CEO Brian Brooks and former United States Comptroller of the Currency Michael Hsu. With such a strong commitment to Bitcoin and a team of experienced leaders guiding them, it seems clear that MicroStrategy plans to continue growing their Bitcoin treasury well into the future.
Source
As per reported by cointelegraph.com
