World-Renowned Bitcoin Bull MicroStrategy Expands Its Enormous Stockpile To 439,000 BTC After Securing Nasdaq-100 Addition
MicroStrategy, the Michael Saylor-founded software firm and self-described Bitcoin Development Company, announced today that it had acquired even more Bitcoin, spending roughly $1.5 billion in cash.
The announcement follows Fridays news of MicroStrategy becoming the first BTC-centric company to secure entry into the Nasdaq-100 Index. The companys entry will connect index investors to Bitcoin exposure.
MicroStrategy Just Bought Another $1.5 Billion Worth Of Bitcoin
MicroStrategy disclosed Monday morning that it had bought a further 15,350 BTC at an average price of $100,386 per BTC, totaling $4.6 billion.
According to an 8-K filing, the Bitcoin was purchased between Dec. 9 and 15. The latest acquisition has pushed the size of MicroStrategys Bitcoin stash to a new all-time peak.
As of press time, MicroStrategy holds an eye-watering 439,000 Bitcoin, or roughly 2% of the total supply of Bitcoin that will ever be created, with approximately 19.7 million BTC of the total 21 million supply currently circulating. The firms overall average purchase price is $61,725 per BTC.
The software companys Bitcoin stockpile was acquired for $27.1 billion in total, but thanks to the parabolic price rally this year, its now worth almost double that at $45.6 billion.
Bitcoins price has been skyrocketing since Donald Trump clinched a second term as the President of the United States. The crypto-friendly candidate made a slew of promises to the industry. The orange coin has shattered all-time high prices multiple times in recent weeks, with its latest peak being $106,418.
MicroStrategy To Officially Join Nasdaq 100 Next Monday
Meanwhile, Nasdaq recently announced that MicroStrategy stock will be included in the Nasdaq-100 Index, fortifying its position among a select group of non-financial firms.
MicroStrategy is expected to officially join the index on Dec. 23 before the market opens. For Bitcoin fans, this milestone is a moment of vindication, demonstrating how far the crypto industry has come in garnering institutional recognition.
MicroStrategys MSTR stock jumped on news of the imminent listing and the recent BTC purchase in pre-market trading 3% and is currently trading at $422 a share, according to MarketWatch.
Text source: ZyCrypto
