MicroStrategy Adds More Bitcoin to its Holdings
US tech firm MicroStrategy has announced buying 5,262 Bitcoins valued at $561M, a press run that has seen its total purchase scale up to 444,262 BTC with an acquisition rate valued approximately at $62,257.
Michael Saylor tweeted, X stating,
“At 12/22/2024, we hodl 444,262 $BTC acquired for ~$27.7 billion at ~$62,257 per bitcoin.”.
This acquisition underlines MicroStrategy’s commitment to Bitcoin both as a strategic asset and a hedge against the traditional financial instability of the company.
MicroStrategy to Join Nasdaq 100 Index
Along with steadily growing its Bitcoin portfolio, MicroStrategy is ready to join the Nasdaq 100 index effective December 23, 2024. The action will finally secure it in the top 100 companies on Nasdaq based on market capitalization.
The inclusion places stock investors indirectly into Bitcoin, particularly through the Invesco QQQ Trust, which manages $322 billion in assets.
Strategic Leadership Updates
In support of its Bitcoin-focused agenda, MicroStrategy has enlisted the following key leadership changes on the board:
- Brian Brooks: Former CEO of Binance.US and U.S. Comptroller of the Currency
- Jane Dietze: Board member at Galaxy Digital
- Gregg Winiarski: Executive from Fanatics Holdings.
These additions come to herald regulatory compliance, digital innovation, and strategic growth within the Bitcoin ecosystem.
Saylor’s Bitcoin Vision
Michael Saylor is still one of the strongest voices in support of Bitcoin. He speaks confidently about massive future buys, sometimes talking about the potential of buying $1 billion worth of the cryptocurrency daily when its value reaches $1 million per coin.
He also aligns with the move by President-elect Donald Trump to create a U.S. strategic Bitcoin reserve that would help bring about innovation, set standards for compliance, and give defined rights to the holder. Saylor had this to say about such a strategic Bitcoin reserve:
“This could unlock trillions of dollars in wealth, enable business, and cement the role of the U.S. dollar as the foundation of the digital monetary system”.
He estimated this could generate $16 to $81 trillion in wealth, perhaps erasing the U.S. national debt of $36 trillion.
Conclusion
From adding more Bitcoin to its reserves to joining the Nasdaq 100 and improving leadership, MicroStrategy proves a leader in advancing and advocating for digital assets.
