Business intelligence company MicroStrategy announced on Wednesday its latest BTC purchase of 14,620 BTCs (worth approximately $615.7 million). The new acquisition brings the firm’s total Bitcoin portfolio to a whopping 189,150 BTCs, valued at about $5.9 billion.
MicroStrategy Continues Buying Spree
In a Form 8-K filed with the United States Securities and Exchange Commission (SEC) on December 27th, the business intelligence company disclosed that the latest BTC purchase was accrued since its last big buy announced on November 30th till date. The BTCs were purchased at an average price of $42,110 per bitcoin, including fees covered and expenses.
With its total Bitcoin stash at 189,150 BTCs, MicroStrategy now holds an impressive 0.966% of Bitcoin’s circulating supply.
In its three-year Bitcoin buying spree, MicroStrategy has remained committed to stacking up one of the largest Bitcoin portfolios ever. Among its most recent buys are 16,130 BTCs and 5,445 BTCs purchased in November and September, respectively. The latest purchase further cements the company’s position as the largest publicly traded company holding BTCs.
A Step Towards Spot Bitcoin ETF Anticipation?
Although MicroStrategy is not among the cohort of companies seeking a spot Bitcoin exchange-traded fund (ETF), the company’s cofounder believes that the highly anticipated financial product “may be the biggest development on Wall Street in the last 30 years.”
Spot Bitcoin ETF is a financial product that allows retail and institutional investors to invest in the leading cryptocurrency. For several months, the U.S. SEC has yet to get approval for companies to offer the product to U.S.-based investors.
Market experts believe that the potential approval of the spot Bitcoin ETF will cause BTC’s value to soar to new heights. This means that MicroStrategy’s BTC portfolio will see an increase too.
Meanwhile, Bitcoin has a current trading price of $42,800, representing a 0.6% increase in the past 24 hours and a 2.67% decrease in the past seven days.
Source: CoinMarketCap
