Microstrategy has taken a break from the intense Bitcoin purchase process, which he has been going on for the last three months. The company continued to accumulate Bitcoin immediately after the US elections and became one of the biggest BTC purchases among corporate investors.
Microstrategy stopped Bitcoin purchases
While the US Presidential Elections changed the expectations of the crypto currency market, Microstrategy was among the corporate investors who increased their purchases in this process. On November 11, 2024, the company significantly increased BTC assets by recruiting a large Bitcoin.
https://twitter.com/saylor/status/1886400323268345864
The company announced that it plans to collect funds of over $ 40 billion at the end of October and accelerated Bitcoin investments after the elections. On November 11, it had a major impact on the crypto market by acquiring 27,200 BTCs. The total value of this purchase was over $ 2 billion, and there was a significant rise in Microstrategy’s stock prices.
Effect on Market fluctuations and stock prices
Microstrategy’s stock prices, with the rise of Bitcoin, reached $ 470 in November, broke its record in November. However, at the end of December, it declined to $ 290 and experienced a serious decline. In January, the company’s shares were traded for $ 335 last week.
The last wave of sales in the crypto market may cause a further decrease in Microstrategy’s shares. However, these fluctuations did not affect the company’s Bitcoin purchase strategy and continuing uninterrupted purchases for 12 weeks. The largest one -time purchase of the company took place on 18 November and 51,780 BTC was purchased on 18 November.
In Microstrategy portfolio Bitcoin assets remained constant
Microstrategy’s CEO Michael Saylor announced this week that the company has not purchased a new Bitcoin and did not sell any shares. The company currently has a portfolio of 471,107 BTC. These BTCs were purchased for $ 30.4 billion in total and the average cost price was calculated as $ 64,511.
Microstrategy had 244,800 BTC in September 2024. In the last few months, the decision of the company, which has doubled the BTC assets almost doubled this week, coincided with the period in which Bitcoin prices lost $ 15,000 today.
Effects on Bitcoin and Market
Microstrategy’s stopping Bitcoin purchases is considered an important development for the market. The lack of new purchases of the company may indicate that it adopts a different strategy for fluctuations in Bitcoin prices.
In the coming days, Microstrategy’s re -starting BTC purchase and the effects of this decision on the Bitcoin market will be closely monitored.
