MicroStrategy, the corporate entity with the largest Bitcoin holdings, has expanded its reserves by acquiring an additional 5,262 Bitcoins, with a total expenditure of $561 million and an average purchase price of $106,662 per coin. According to a recent update from co-founder Michael Saylor on X, the company’s total Bitcoin holdings to a substantial 444,262 coins, with an overall average acquisition cost of $62,257 per coin. As of December 22, 2024, Saylor reported that the company’s Bitcoin stash is valued at approximately $27.7 billion.
MicroStrategy to become a part of the Nasdaq 100 Index
MicroStrategy is set to become part of the Nasdaq 100 index on December 23, 2024, marking a significant milestone for the company. This move will position them among the top 100 companies listed on the Nasdaq based on market capitalization, providing exposure to Bitcoin for stock investors, including those invested in the Invesco QQQ Trust (QQQ), which manages assets valued at $322 billion. Alongside their increasing Bitcoin reserves, MicroStrategy has implemented notable changes to its leadership team, welcoming new board members such as Brian Brooks, Jane Dietze, and Gregg Winiarski. These additions underscore the company’s strategic focus on being heavily involved in the Bitcoin space. Michael Saylor, the co-founder known for his strong support of Bitcoin, remains optimistic about the future, expressing intentions to continue purchasing Bitcoin even at peak prices. During an interview with Yahoo Finance, Saylor discussed potential future acquisitions, envisioning daily purchases of up to $1 billion if Bitcoin reaches $1 million per coin.
Saylor backs Trump’s plan to hold strategic Bitcoin reserves.
Saylor has voiced strong approval for President-elect Donald Trump’s plan to create a strategic Bitcoin reserve. In his recent policy document called the “Digital Assets Framework,” Saylor outlined a strategy for the U.S. to support the growth of the digital asset industry, establish clear compliance rules, and protect the rights of crypto asset holders and companies. He emphasized the importance of the U.S. taking the lead in the global digital economy by promoting innovation in digital assets. Saylor believes that by setting up a well-defined framework and compliance standards, the U.S. can become a leader in the digital economy. He suggested that implementing such measures could unlock significant wealth, benefit numerous businesses, and maintain the U.S. dollar’s dominance in the digital financial system. Although Saylor did not specify the exact size of the reserve, he hinted that it could generate wealth ranging from $16 to $81 trillion, which could potentially eliminate the U.S. national debt of $36 trillion.
