MicroStrategy’s periodic Bitcoin purchases of 2024 have now exceeded those of the 2021 bull market. In addition, purchases from Michael Saylor’s company appear to be increasing. For example, it bought 27,200 Bitcoin on November 10, bought 51,780 Bitcoin on November 17, and followed up with the largest purchase on November 24 with 55,500 Bitcoin at $97,000 per coin.
More Bitcoin than during the previous bull market
This means that MicroStrategy’s purchases are much larger this year than during the previous bull market.
During the 2020/2021 bull run, MicroStrategy’s largest purchase was worth 29,646 Bitcoin on December 21, 2020. At the time, Bitcoin was still trading at the $21,000 level. How Michael Saylor will sometimes still dream of such price levels.
After all, he now has to purchase his Bitcoin at around 100,000 dollars each.
Another nice development is that MicroStrategy also inspires other companies with its purchases. For example, we see many Bitcoin miners investing in Bitcoin in the same way, but companies such as Metaplanet and Semler Scientific are also participating.
Today we will probably get a new orange dot on the graph above. Those dots represent BTC purchases from MicroStrategy. Yesterday, Michael Saylor announced that a next purchase could probably be added to the graph.
MicroStrategy to the Nasdaq
Today is also a special day for MicroStrategy. From December 23, Michael Saylor’s company will officially become part of the Nasdaq 100 index. And that means there are millions of investors worldwide who automatically buy a piece of MicroStrategy (and therefore also Bitcoin) every month.
Michael Saylor, the co-founder and chairman of MicroStrategy, is clear about the future of the company. “I’m sure I’ll be buying Bitcoin at $1 million per coin, and probably at $1 billion per day at that $1 million per coin rate,” Saylor said.
That would mean that even at that rate he will purchase approximately 1,000 Bitcoin per day. At that rate, he is now also buying his Bitcoin from the market.
If that’s the case, it probably won’t be long before MicroStrategy can join the ranks of the world’s largest companies.
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Source: https://newsbit.nl/microstrategy-koopt-gigantische-hoeveelheden-bitcoin-in-2024/
