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MicroStrategy's New Bitcoin Purchase Draws Attention

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by Giorgi Kostiuk

a year ago

MicroStrategy continues its active investment in Bitcoin, undeterred by market fluctuations and economic speculation.

MicroStrategy's New Acquisition

Between December 16 and 22, MicroStrategy acquired 5,262 BTC, investing approximately $561 million, the company announced on December 23. This purchase was made at an average price of roughly $106,662 per BTC, marking the highest cost the company has ever paid for the cryptocurrency.

Deceleration in Purchases

This latest Bitcoin purchase is part of a December buying spree, during which the company accumulated 42,162 BTC now valued at $4 billion. However, the recent acquisition accounts for only about 12% of the company's total December purchases and represents the smallest amount of BTC bought since mid-2024, when 169 BTC were acquired.

Market Concerns and Statements

The slowdown in Bitcoin buying coincided with concerns raised by BitMEX co-founder Arthur Hayes about a potential market drop tied to the inauguration of U.S. President-elect Donald Trump. Additionally, rumors suggest MicroStrategy may enter a 'blackout period' in January 2025, halting its issuance of shares and convertible bonds to fund further Bitcoin purchases. Despite market uncertainties, Saylor remains committed to Bitcoin.

Despite a slowdown in purchases and potential financial risks, MicroStrategy continues to have confidence in the future value of Bitcoin, affirming its commitment to cryptocurrency investments.

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