One of the major institutional holders of Bitcoin, MicroStrategy, has acquired 15,350 BTC. According to an announcement by the company on Monday, in its recent purchase, MicroStrategy spent about $1.5 billion in cash.
Furthermore, in the statement, the firm disclosed that it bought the tokens between December 5 and 15, 2024. MicroStrategy said it paid an average price of $100,386 for the tokens, and the acquisition increased the firm’s total BTC holdings to 439,000 BTC.
It is worth mentioning that before the latest purchase, MicroStrategy bought 21,550 BTC between December 2 and 8 at an average price of $98,783. Meanwhile, the recent acquisition underlines the bullish approach of the company to Bitcoin.
BTC has been on an impressive price rally, attracting more investors to the virtual assets market. According to Coinmarketcap, the value of Bitcoin soared by 16.37% in the last 30 days. The run gained momentum following the emergence of Donald Trump in November.
On his return to the White House, Trump promised to accumulate BTC as a strategic reserve, declaring his support for the digital assets sector. During his campaign, the President-elect said his administration would ensure that the industry is well-regulated to protect investors and market participants alike.
How MicroStrategy Founder Promises to Remain Bullish on BTC
The firm’s founder, Michael Saylor, vowed that he would always buy BTC despite the cryptocurrency’s recent rise above $100,000. In a recent interview, the founder disclosed that he is willing to buy Bitcoin even at $1 million or probably $1 billion.
Similarly, the Bitcoin enthusiast urged the US government to dump gold and embrace BTC as a hedge against inflation. He explained that demonetizing the entire gold asset class and investing in BTC would give the US government an advantage over its enemies.
The statement echoed the Bitcoin bull’s willingness to acquire as many BTC as possible. Currently, Michael Saylor is one of the largest individual holders of BTC.
The founder also provided insight into MicroStrategy’s BTC portfolio’s performance. Michael Saylor indicated that the firm’s BTC holding yielded 46.4% quarter-to-date and 72.4% year-to-date.
The impressive return illuminates the recent price rally of BTC that pushed the token beyond the $100k price mark.
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