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MicroStrategy Prepares for More Bitcoin Purchases Ahead of New Year
By Peter Macharia
December 30, 2024
In a move that has sent shockwaves through the cryptocurrency market, MicroStrategy has announced its intentions to make more Bitcoin purchases ahead of the new year. This development comes on the heels of the company’s recent acquisition of 5,200 BTC, which brought their total holdings to an astonishing 444,262 BTC.
As part of their ongoing strategy, MicroStrategy has demonstrated no signs of slowing down in their pursuit of acquiring and holding more Bitcoin, despite market fluctuations. The latest purchase was made at an average price of $106,000 per Bitcoin, significantly lower than previous acquisitions. This notable decrease in cost is expected to have a profound impact on the company’s financials moving forward.
MicroStrategy’s relentless pursuit of Bitcoin has led many to speculate about their next move, with some predicting that they may use their vast reserves to shore up the cryptocurrency market. However, only time will tell if these predictions come true.
Despite the recent dip in price, Saylor’s “21/21” plan remains firmly intact, with an ambitious goal of raising $42 billion over the next three years. This monumental effort aims to support continued Bitcoin purchases and cement MicroStrategy’s position as the largest corporate holder of the digital asset.
The company’s plans have also led to discussions about the potential creation of a U.S. Bitcoin reserve, which Saylor has proposed as a means to tackle the national debt. Furthermore, he advocates for growing the digital asset market to reach a $10 trillion market capitalization, which would bolster the dollar’s status as the global reserve currency.
As the clock strikes midnight and welcomes in the new year, it is clear that MicroStrategy will not be slowing down their aggressive Bitcoin purchasing strategy.
Source: www.crypto-news.net
