- December 16, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The post Breaking : Microstrategy Buys 15,350 BTC For $1.5 Billion appeared first on Coinpedia Fintech News
Microstrategy, a Nasdaq-100 listed firm has acquired 15,350 BTC Bitcoins for approximately $1.5 billion billion at an average price of $100,386 per BTC.
With the recent acquisition, the firm holds 439,000 $BTC , purchased for $27.1 billion at an average of $61,725 per bitcoin, achieving YTD yields of 46.4% QTD and 72.4% YTD.
MicroStrategy now holds 2% of the 21 million BTC available in existence.
On December 15, Michael Saylor sparked an interesting discussion, with his X post questioning the absence of a “green dot” on SaylorTracker, which is widely known as a signal for imminent Bitcoin purchases.
MicroStrategy joins the Nasdaq-100 index and ‘QQQ’ ETF
Starting December 23, MicroStrategy’s inclusion in the Nasdaq-100 positions it within prominent index-tracking funds like QQQ. With over $250 billion in assets under management, this exchange-traded fund provides unparalleled exposure to millions of retail and institutional investors worldwide.
As a result, ETFs tracking the index, managing over $550 billion in assets collectively, now automatically include MicroStrategy in their portfolios. The largest of these, Invesco QQQ, manages assets exceeding $300 billion, creating significant potential to boost MSTR’s share value.
MicroStrategy ($MSTR) becomes the first Bitcoin treasury company in the NASDAQ 100; However, Saylor predicts $MARA could follow next.
James Van Straten, a senior analyst at CoinDesk, highlights that MicroStrategy ($MSTR) needs positive earnings over the past four quarters to qualify for the S&P 500. He projects that with FASB implementation in Q1 2025 and Bitcoin ($BTC) priced at $120,000, $MSTR could achieve $25 billion in net income, potentially making it eligible for inclusion in the S&P 500 as early as Q2 2025.
Institutions are fueling Bitcoin’s rise—read Bitcoin price prediction to discover where this unstoppable surge is headed next!
Impact on Bitcoin Price
Bitcoin Price continued its upward trend, reaching a new all-time high of 106,488.25 early Monday. The recent spike comes amid rising investor optimism, spurred by US President-elect Donald Trump’s possible bitcoin strategic reserve fund and the continuous surge of institutional interest, including the Nasdaq listing of pro-Bitcoin startup MicroStrategy.
As of press time, BTC price is changing hands at $103K, with minor loss.
Market experts believe that MicroStrategy’s growing influence in the Nasdaq-100 and its continued Bitcoin purchases could further attract additional institutional buyers, potentially pushing Bitcoin to new all-time highs.
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FAQs
MicroStrategy owns 439,000 BTC, purchased for $27.1 billion, representing 2% of all Bitcoin in existence.
MicroStrategy is a Nasdaq-listed business intelligence firm that specializes in software solutions and holds substantial Bitcoin reserves.
MicroStrategy invests in Bitcoin as a strategic reserve asset to protect against inflation and strengthen its financial position.
