MicroStrategy Invests $615.7 Million in Bitcoin Ahead of Potential SEC ETF Decision
Details:
MicroStrategy announces the purchase of approximately 14,620 bitcoins worth $615.7 million.
The acquisition occurred between Nov. 30 and Dec. 26 at an average price of about $42,110 per bitcoin.
This move comes amidst anticipation of the U.S. SEC potentially approving a spot bitcoin exchange-traded fund (ETF).
The Virginia-based company's shares surged over 300% this year, with a 3.2% increase in morning trading.
MicroStrategy, along with its subsidiaries, now holds around 189,150 bitcoins, acquired for approximately $5.9 billion.
The firm considers its bitcoin investments as long-term holdings and plans to continue accumulating the cryptocurrency.
MicroStrategy announces the purchase of approximately 14,620 bitcoins worth $615.7 million.
The acquisition occurred between Nov. 30 and Dec. 26 at an average price of about $42,110 per bitcoin.
This move comes amidst anticipation of the U.S. SEC potentially approving a spot bitcoin exchange-traded fund (ETF).
The Virginia-based company's shares surged over 300% this year, with a 3.2% increase in morning trading.
MicroStrategy, along with its subsidiaries, now holds around 189,150 bitcoins, acquired for approximately $5.9 billion.
The firm considers its bitcoin investments as long-term holdings and plans to continue accumulating the cryptocurrency.
Why This Matters:
MicroStrategy's significant investment in Bitcoin could be a bellwether for other companies' confidence in cryptocurrency as a viable asset.
The SEC's upcoming decision on a spot bitcoin ETF could have major implications for the cryptocurrency market and investor access.
MicroStrategy's significant investment in Bitcoin could be a bellwether for other companies' confidence in cryptocurrency as a viable asset.
The SEC's upcoming decision on a spot bitcoin ETF could have major implications for the cryptocurrency market and investor access.
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SkyInvestor : Smart move
Aegis1 : nothing to say about him recently selling over 200$ million in stock?