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- 1 The leading Bitcoin holder MicroStrategy repurchased BTCs for $615 Million- Reports.
- 2 Micheal J. Saylor posted the information about adding Bitcoin to the MicroStrategy account.
- 3 MicroStrategy’s share price showed significant movement after purchasing a fresh lot of Bitcoin.
Recent reports state that MicroStrategy, one of the biggest companies holding Bitcoin, has repurchased 14,620 BTC for $615 Million, each at an average price of $42,110.
After adding 14,620 BTC, BTC’s MicroStrategy now holds 189,150 BTC, making it the biggest Bitcoin holder at Satoshi Nakamoto. On Wednesday, December 27, Michael Saylor posted the information about adding BTC to MicroStrategy on’ X.’
MicroStrategy has stated that it plans to keep accumulating the world’s largest and most well-known cryptocurrency and that its Bitcoin assets are meant to be long-term holdings.
After starting to purchase bitcoin in 2020, MicroStrategy said that, along with its subsidiaries, it currently possesses over 189,150 bitcoins, for which it paid approximately $5.9 billion.
Other Activities in ETF Applications
Grayscale Investment resubmits its proposal for a spot ETF after chairman Barry Silbert leaves. They wished to transform their Bitcoin trust into an ETF, allowing investors to trade shares more freely than the closed-end trust now allowed.
Following the market uproar, there was a notable increase in investment since spot ETFs and BlackRock’s debut attracted investors’ attention to the impending future of currency.
Bitcoin had one of the most significant inflows of $87.6 million, Ethereum came in second with $7.9 million, and the rest was split among all the other currencies and tokens.
Germany accounts for 40% of the entire influx of nations, with Canada and other countries following. All cryptocurrency enthusiasts anxiously await the U.S. SEC’s ruling regarding spot ETFs.
Investors in other jurisdictions, including Canada, Australia, and Germany, may already purchase shares in spot Bitcoin ETFs.
If the U.S. SEC disapproves of the ETF applications, Hong Kong might become the second runner in ETF registrations. In the past few days, a significant surge in spot ETF registration has been seen in Hong Kong.
Crypto Price Movement
As per dozens of market analysts, BTC will surpass its annual target of $50k by the end of this month.
The surge in the use of Bitcoin over the past several months has shaken the whole cryptocurrency sector. Many top crypto companies have filed ETF applications with security regulators in various nations, raising concerns.
Other News Associated with MicroStrategy
As per Microstrategy’s August to September filing, the U.S. SEC purchased nearly 5,445 Bitcoins for $147.3 million cash. Each BTC was purchased at the price of $27,053, inclusive of taxes and charges.
In 2023, MicroStrategy (MSTR) had a 350% increase in stock price, primarily because of anticipation around the U.S. government’s approval of a spot Bitcoin exchange-traded fund (ETF).
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
