MicroStrategy Bitcoin purchases surpass 2021 bull market levels
2024-12-22
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MicroStrategy's periodic Bitcoin BTCUSD purchases have surpassed the highest levels recorded during the 2021 bull market. The company's November and December BTC purchases are also increasing in size from earlier 2024 acquisitions.
According to the Saylortracker page, MicroStrategy purchased 27,200 BTC on Nov. 10, 2024, at approximately $74,000 per coin. MicroStrategy acquired another 51,780 BTC on Nov. 17, followed by its largest BTC buy on record of 55,500 BTC on Nov. 24 at roughly $97,000 per coin.
During the 2020-2021 bull run, MicroStrategy's biggest acquisition was 29,646 Bitcoin on Dec. 21, 2020, when Bitcoin traded around the $21,000 price level.
MicroStrategy's corporate Bitcoin treasury plan has inspired other companies to follow suit, and many traders see it as a positive price catalyst for Bitcoin, pulling institutional capital and liquidity from the stock market into the Bitcoin market.
MicroStrategy added to the Nasdaq 100 stock market index
MicroStrategy will enter the Nasdaq 100 index — a weighted index of the 100 largest companies by market capitalization listed on the Nasdaq exchange — on Dec. 23, 2024.
The inclusion of MicroStrategy in the Nasdaq 100 gives stock investors exposure to Bitcoin — including holders of the Invesco QQQ Trust (QQQ), an exchange-traded fund (ETF) with approximately $322 billion in assets under management.
Following the addition of MicroStrategy to the Nasdaq index, the company added several new executives to its board of directors, including former Binance.US CEO Brian Brooks, Galaxy Digitial board member Jane Dietze, and Gregg Winiarski of Fanatics Holdings.
Brian Brooks also served as the former United States Comptroller of the Currency in 2021 under the Biden administration. As the Comptroller of the Currency, Brooks oversaw the entire US banking system.
Michael Saylor, MicroStrategy's co-founder, previously said that the company will continue buying Bitcoin at peak prices for the entire life cycle of the asset.
The entrepreneur told Yahoo Finance “I am sure that I will be buying Bitcoin at $1 million a coin — probably $1 billion dollars a day of Bitcoin at $1 million a coin.”