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MicroStrategy has once again bought bitcoin

Market Analysis

December 16, 2024

MicroStrategy’s Chief Investment Strategist has hinted at another cryptocurrency purchase by the company. This could mark the first time the firm has acquired Bitcoin at an average price exceeding $100,000 per unit.

Hint at a purchase

In a post on platform X, Saylor asked if a green dot was missing from the MicroStrategy asset chart tracked through SaylorTracker. This marks the sixth time his posts have been followed by a confirmation of BTC purchases the next day.

The SaylorTracker chart shows that the company has been purchasing Bitcoin for five consecutive weeks, with each acquisition confirmed by official data.

First purchase at a six-figure price

If Saylor's assumptions are confirmed, MicroStrategy has acquired its first batch of Bitcoin at an average price above $100,000. According to CoinGecko, Bitcoin’s price has not dipped below six figures since December 13. Previously, on three Mondays between November 25 and December 9, the company purchased Bitcoin at average prices of $97,862, $95,976, and $98,783, respectively.

New goals for the company

MicroStrategy currently holds 423,650 BTC valued at over $43.6 billion, bringing it close to achieving a $50 billion portfolio. This purchase occurred just before digital gold reached a new all-time high of $106,554.

Michael Saylor stated that the company does not plan to stop. He is confident that MicroStrategy will continue acquiring the leading cryptocurrency even if the price reaches $1 million.