MicroStrategy prepares for ETF approval

With the latest Bitcoin-purchase of $615 million, MicroStrategy owns one percent of the total BTC in circulation.

As MicroStrategy founder Michael Saylor said announced on X (formerly Twitter), the company he founded has bought Bitcoin again: MicroStrategy added a total of 14,620 BTC to its holdings. The technology company paid an average of US$42,110 for the 14,620 BTC. The total price of the latest acquisition is $615.7 million. MicroStrategy now has 189,150 BTC owned with a total value of USD 5.9 billion. The average price paid per coin was USD 31,168.

MicroStrategy in the plus

At a current exchange rate of USD 43,040 per Bitcoin, MicroStrategy's BTC wallet is in the plus. And thus owns about 0.91 percent of the total amount of Bitcoin in circulation. So it seems only a matter of time before MicroStrategy owns 1 percent.

Many investors expect the price to rise sharply in 2024. A correspondingly strong Bitcoin rally could give MicroStrategy billions in unrealized profits. Read whether the technology company could even overtake Apple here.