MicroStrategy Bitcoin purchases surpass 2021 bull market levels

As a seasoned crypto investor with a knack for spotting trends and understanding market dynamics, these recent moves by MicroStrategy have piqued my interest. The company’s relentless Bitcoin acquisitions, particularly the massive purchases in November and December of 2024, suggest a strong conviction in the future of Bitcoin that I find intriguing.

MicroStrategy has made more frequent Bitcoin (BTC) buys than at any point during the 2021 market surge, with their recent purchases in November and December being larger than those made earlier in 2024.

As indicated on the Saylortracker website, MicroStrategy made a purchase of 27,200 Bitcoins on November 10, 2024, with each coin costing around $74,000. The company continued its Bitcoin acquisition journey by purchasing an additional 51,780 BTC on November 17. The largest Bitcoin buy ever recorded by MicroStrategy took place on November 24, when they bought 55,500 BTC approximately at $97,000 per coin.

In late December of 2020, during a period of Bitcoin price increase known as the bull run, MicroStrategy made its largest purchase of 29,646 Bitcoins. At that time, Bitcoin was trading near the $21,000 price mark.

The corporate Bitcoin savings strategy by MicroStrategy has encouraged other businesses to adopt similar strategies, with many investors viewing it as a significant factor boosting Bitcoin’s price. This shift in institutional funds and resources is thought to be moving from the stock market towards the Bitcoin market.

MicroStrategy added to the Nasdaq 100 stock market index

On December 23, 2024, MicroStrategy is expected to join the Nasdaq 100 Index, a stock market index that includes the top 100 companies with the highest market value listed on the Nasdaq exchange.

Adding MicroStrategy to the Nasdaq 100 allows stock investors a chance to invest in Bitcoin, even for those who own shares of the Invesco QQQ Trust (QQQ), a type of investment fund known as an exchange-traded fund (ETF) that manages over $322 billion in assets.

After MicroStrategy joined the Nasdaq index, the company brought on board some new executive members. These include Brian Brooks, who was previously CEO of Binance.US, Jane Dietze, a board member at Galaxy Digital, and Gregg Winiarski from Fanatics Holdings.

In 2021, Brian Brooks held the position of the former U.S. Comptroller of the Currency, serving under the Biden administration. During his tenure, he was responsible for overseeing the operation of the entire American banking system.

According to Michael Saylor, MicroStrategy’s co-founder, the company has stated their intention to keep purchasing Bitcoin even during its highest price points throughout the asset’s lifespan.

The business owner confidently shared with Yahoo Finance, “I’m absolutely certain I’ll purchase Bitcoin when its price reaches $1 million per coin. That’s likely to amount to around a billion dollars spent on Bitcoin every day.

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2024-12-22 19:53