MicroStrategy Strengthens its Position on Bitcoin (BTC)
MicroStrategy, under the leadership of its president Michael Saylor, continues to reinforce its position on Bitcoin. With the recent purchase of 14,620 bitcoins for $615 million, the company has brought its total investments in Bitcoin to nearly $1.2 billion since November.
These recent acquisitions add to the company’s previous purchases, which included buying around 16,000 bitcoins for nearly $600 million at the end of November.
It is worth noting that the company acquired its bitcoins at an average price of $31,168, bringing its total investment in Bitcoin to approximately $5.9 billion for 189,150 bitcoins. This aggressive investment strategy reflects MicroStrategy’s conviction in the long-term potential of Bitcoin.
Michael Saylor’s Vision on Bitcoin Spot ETFs
Michael Saylor has expressed his optimistic vision regarding the potential approval of Bitcoin spot ETFs, which he sees as a catalyst for companies exposed to Bitcoin.
Furthermore, he anticipates increased analytical coverage from traditional Wall Street banks, which could result in greater awareness and interest in Bitcoin.
Throughout the year, MicroStrategy has experienced a significant rise in its stock, MSTR, which has increased by over 337% in 2023, bringing it close to its 52-week high.
