As a seasoned financial analyst with over two decades of experience in the industry, I find MicroStrategy’s continued investment in Bitcoin to be both intriguing and strategic. Having closely observed the cryptocurrency market since its inception, I can attest that this level of commitment from a large corporation demonstrates a strong belief in the long-term potential of Bitcoin as a store of value.
The company’s recent acquisition of 2,136 BTC for $209 million, bringing their total holdings to over 446,000 BTC, underscores MicroStrategy’s confidence in the digital asset and its ability to generate returns. While some critics like Peter Schiff may question the impact of these purchases on Bitcoin’s price, I believe that institutional interest such as this is a significant factor in driving adoption and long-term growth.
Moreover, with an unrealized profit of over $13 billion, MicroStrategy’s investment has already proven to be highly profitable for the company. This should serve as a testament to the potential rewards that can be reaped from investing early in promising new asset classes.
In terms of my own personal experience, I have learned that successful investing requires a long-term perspective and a willingness to take calculated risks. MicroStrategy’s strategy aligns with this philosophy, and their continued commitment to Bitcoin is a testament to the power of conviction in one’s investment thesis.
As for the joke, I cannot help but chuckle at Peter Schiff’s repeated criticisms of Bitcoin. One might say that he’s like the boy who cried “wolf” too many times, and now when the market really does take a downturn, no one will believe him!
The largest global entity investing in Bitcoin adds another 2,136 Bitcoins worth approximately $209 million to its existing holdings, marking a continuation of its acquisition strategy.
Over the past eight Mondays, the company’s Bitcoin reserves have soared past 446,000 BTC after each successive purchase.
MicroStrategy recently purchased approximately 2,138 Bitcoins for about $209 million each Bitcoin costing around $97,837. This move has generated a quarter-to-date (QTD) yield of 47.8% and a year-to-date (YTD) yield of 74.1%. As of December 29, 2024, they hold approximately 446,400 Bitcoins that were acquired for around $27.9 billion, with each Bitcoin costing about $62,428. In this context, “hodl” means to hold onto one’s Bitcoins and “MSTR” stands for MicroStrategy’s stock ticker symbol.
— Michael Saylor (@saylor) December 30, 2024
Following the major Bitcoin investments made through billion-dollar acquisitions in November and early December, MicroStrategy has temporarily reduced its pace of Bitcoin purchases, yet it persists in setting aside substantial amounts of money for these transactions.
Today, Michael Saylor unveiled the newest acquisition, priced on average at approximately $97,834 per Bitcoin. The company has so far invested nearly $28 billion, with each Bitcoin acquired costing an average of around $62,428.
Even though Bitcoin’s current price is about 15% below its record high reached just recently, MicroStrategy’s bitcoin holdings are currently valued at a staggering $41.5 billion. This implies that the company now boasts an unrealized profit of over $13 billion.
In a similar fashion to his previous criticisms, Peter Schiff – a vocal Bitcoin skeptic – was quick to criticize MicroStrategy and its founder Michael Saylor. Consistently, Schiff has argued that MicroStrategy’s Bitcoin purchases are what primarily drove the digital currency’s price increase. Most recently, he commented that this recent, smaller purchase made at an average price higher than the current one would not sustain further growth in the asset.
Once more, you’ve disclosed another purchase at an average cost exceeding the present value. This means you’re not acquiring sufficient Bitcoin to maintain the upward trend in its price.
— Peter Schiff (@PeterSchiff) December 30, 2024
It’s important to mention that the price of Bitcoin (BTC) has significantly dropped in the recent two weeks. Initially priced at around $108,000, it is now trading at approximately $93,000, representing a decline of 15% following the latest Federal Open Market Committee (FOMC) meeting this year.
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2024-12-30 16:44