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Ruholamin Haqshanas
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Ruholamin Haqshanas
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MicroStrategy, the largest corporate holder of Bitcoin, has added another 5,262 BTC to its reserves, spending $561 million at an average price of $106,662 per Bitcoin.
In a Monday post on X, MicroStrategy co-founder Michael Saylor said that the latest purchase brings the company’s total holdings to an impressive 444,262 BTC, accumulated at an average cost of $62,257 per Bitcoin.
“As of 12/22/2024, we hodl 444,262 $BTC acquired for ~$27.7 billion at ~$62,257 per bitcoin,” he wrote.
MicroStrategy to Join Nasdaq 100 Index
The announcement comes as MicroStrategy prepares to join the Nasdaq 100 index on December 23, 2024.
The inclusion places the company among the top 100 largest firms on the Nasdaq by market capitalization, offering indirect Bitcoin exposure to stock investors, including those holding the Invesco QQQ Trust (QQQ), an ETF managing assets worth $322 billion.
In addition to its growing Bitcoin reserves, MicroStrategy has made significant changes to its leadership.
New board members include Brian Brooks, former Binance.US CEO and U.S. Comptroller of the Currency; Jane Dietze, a board member at Galaxy Digital; and Gregg Winiarski from Fanatics Holdings.
These additions reflect the company’s strategic positioning as a Bitcoin-centric entity.
Michael Saylor, the company’s co-founder and vocal Bitcoin advocate, remains steadfast in his bullish outlook.
Saylor previously stated that MicroStrategy intends to buy Bitcoin at peak prices throughout the asset’s life cycle.
In an interview with Yahoo Finance, he speculated about future acquisitions, envisioning purchases of up to $1 billion per day if Bitcoin hits $1 million per coin.
Saylor Supports Trump’s Strategic Bitcoin Reserve
As reported, Saylor has expressed strong support for President-elect Donald Trump’s proposal to establish a strategic Bitcoin reserve.
Detailed in his “Digital Assets Framework” policy published Friday, the proposal outlines a roadmap for the United States to foster growth in the digital asset industry, establish clear compliance standards, and ensure defined rights for crypto asset holders and companies.
Saylor noted the importance of the U.S. leading the global digital economy through innovation in digital assets.
“By establishing a clear taxonomy, a legitimate rights-based framework, and practical compliance obligations, the United States can lead the global digital economy,” he wrote.
He added that such measures could unlock trillions of dollars in wealth, empower millions of businesses, and secure the U.S. dollar’s status as the cornerstone of the digital financial system.
While Saylor did not specify the size of the reserve, he suggested it could create wealth ranging from $16 to $81 trillion, potentially erasing the U.S. national debt of $36 trillion.
