MicroStrategy Amplifies Bitcoin Holdings with New Acquisition
MicroStrategy Adds 15,350 BTC to Its Portfolio
MicroStrategy, under the leadership of Michael Saylor, continues to make waves in the cryptocurrency market with its substantial investments in Bitcoin. The company has been a consistent purchaser throughout the current Bitcoin bull market, and it shows no signs of stopping, even as prices soar. Recently, MicroStrategy announced the acquisition of an additional 15,350 BTC, valued at approximately $1.5 billion. This purchase was made at an average price of $100,386 per Bitcoin, during the period from December 9th to 15th.
Strategic Purchases During a Bull Run
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In a recent analysis shared on X by CryptoQuant community analyst Maartunn, a chart highlights MicroStrategy’s buying patterns over the past few months. The company has made six significant purchases during this bull run, with the latest being the smallest in terms of BTC volume. However, due to the increasing Bitcoin prices, this purchase slightly exceeds the value of a previous acquisition of 15,400 BTC earlier in the month.
Expanding Bitcoin Holdings
MicroStrategy’s total Bitcoin holdings have now surged to an impressive 439,000 BTC. A chart illustrating this growth reveals that the company’s buying strategy during this bull market has been more aggressive compared to the 2021 rally, marking this accumulation phase as their largest yet.
Michael Saylor’s Investment Success
Over the years, MicroStrategy has invested a total of $27.1 billion in Bitcoin, with an average acquisition price of $61,725 per coin. Michael Saylor’s strategic bets appear to be paying off, as the firm is currently enjoying profits exceeding 72% based on the current market price.
Bitcoin Reaches New All-Time High
As Bitcoin achieves a new all-time high, surpassing the $106,000 mark, the on-chain analytics firm Glassnode has introduced a new tool, the Cost Basis Distribution (CBD), to analyze accumulation patterns leading up to this milestone.
Analyzing Bitcoin’s Cost Basis Distribution
The CBD tool provides insights into the distribution of Bitcoin’s supply by examining the price levels at which the cryptocurrency was last acquired. The chart reveals significant buying and selling activity between $96,000 and $100,000, with a notable concentration of 500,000 BTC in the $97,000 to $98,000 range.
Current Trading Dynamics
While trading activity continues above the $100,000 threshold, substantial supply clusters have yet to form, particularly above $103,000, where the presence of coins remains sparse.
Current Bitcoin Price
At present, Bitcoin is trading at approximately $106,400, reflecting an 8% increase over the past week. The recent surge in price underscores the dynamic nature of the cryptocurrency market.
