MicroStrategy Bitcoin Purchases Exceed 2021 Bull Market Levels — TradingView News
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MicroStrategy’s cyclical bitcoin Bitcoin against the dollar The purchases exceeded the highs recorded during the 2021 bull market. The volume of the company’s Bitcoin purchases in November and December is also increasing compared to previous acquisitions in 2024.
According to the Saylortracker page, MicroStrategy purchased 27,200 bitcoins on November 10, 2024, at a price of approximately $74,000 per coin. MicroStrategy acquired another 51,780 BTC on November 17, followed by the largest Bitcoin purchase ever of 55,500 BTC on November 24 at a price of approximately $97,000 per coin.
During the 2020-2021 bull run, MicroStrategy’s largest acquisition was 29,646 BTC on December 21, 2020, when BTC was trading around the $21,000 price level.
MicroStrategy’s Bitcoin treasury plan has inspired other companies to follow suit, and many traders see it as a positive price catalyst for Bitcoin, pulling institutional capital and liquidity from the stock market into the Bitcoin market.
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MicroStrategy has been added to the Nasdaq 100 stock market index
MicroStrategy will enter the Nasdaq 100 Index — a weighted index of the 100 largest companies by market capitalization listed on the Nasdaq Stock Exchange — on December 23, 2024.
MicroStrategy’s inclusion in the Nasdaq 100 gives equity investors exposure to Bitcoin — including holders of the Invesco QQQ Trust (QQQ), an exchange-traded fund (ETF) with approximately $322 billion in assets under management.
Following MicroStrategy’s addition to the Nasdaq, the company added several new executives to its board, including former Binance.US CEO Brian Brooks, Galaxy Digitze board member Gene Dietz, and Fanatics Holdings’ Greg Winiarski.
Brian Brooks also served as the former Comptroller of the US Currency in 2021 under the Biden administration. As Comptroller of the Currency, Brooks oversaw the entire American banking system.
Michael Saylor, co-founder of MicroStrategy, previously said the company would continue to buy Bitcoin at peak prices throughout the entire lifecycle of the asset.
“I’m pretty sure I’ll be buying Bitcoin at $1 million a coin — maybe a billion dollars a day worth of Bitcoin at $1 million a coin,” the businessman told Yahoo Finance.
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2024-12-22 16:46:00