MicroStrategy has increased its investment in bitcoin to $5,9 billion
The company’s accounts hold 189 150 coins with an average value of $31 168
27.12.2023 - 14:54
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What’s new? Analytics software provider MicroStrategy has once again increased its investment in the first cryptocurrency. According to CEO Michael Saylor, the company bought another 14 620 BTC at an average price of $42 110 per coin for a total of $615,7 million. In total, the company holds 189 150 bitcoins with an average value of $31 168 as of December 26.
What else is known? MicroStrategy is the largest holder of BTC among publicly traded companies. The book value of its investment in the asset is estimated at $5,9 billion. At the same time, at the current rate of Binance as of December 27, 14:00 UTC, the value of accumulations exceeds $8,1 billion. Thus, the company’s unrealized profit from bitcoin investments is $2,2 billion.
In early December, S3 Partners analysts reported that the unrealized losses of holders of short positions in shares of crypto firms, such as MicroStrategy, since the beginning of the year exceeded $6 billion. The company’s securities under the ticker MSTR are trading at $603,89 on Nasdaq, up 314,56% since the beginning of the year.
MicroStrategy bought 6067 bitcoins in Q3, and in late November reported buying another 16 130 coins.
Earlier this month, Saylor said the approval of spot bitcoin exchange-traded funds in the US would be the biggest event for Wall Street in 30 years. According to the businessman, the admission of such products to the market will be comparable in scale only to the launch of an SPDR exchange-traded fund based on the S&P 500 stock index.
Grayscale CEO Michael Sonnenschein noted that this event will open bitcoin access to the market of $30 trillion. The launch of such funds could take placeas early as the first days of the new year.
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