MicroStrategy Bags 14,620 Bitcoins Ahead of Potential ETF Approval on Kraken Crypto Exchange.
MicroStrategy bags 14,620 bitcoins ahead of potential ETF approval

MicroStrategy’s Growing Bitcoin Stash

Business intelligence firm MicroStrategy has been steadily accumulating Bitcoin (BTC) as the potential approval of a spot BTC exchange-traded fund (ETF) in the United States looms closer.

MicroStrategy and its subsidiaries purchased another 14,620 BTC for $615.7 million in cash between Nov. 20, 2023, and Dec. 26, 2023, according to the firm’s 8-K filing with the U.S. Securities and Exchange Commission.The latest Bitcoin stash cost MicroStrategy roughly $42,110 per BTC, including fees and other expenses, the filing notes.

The purchase brings MicroStrategy and its subsidiaries’ aggregate Bitcoin holdings to 189,150 bitcoins, putting them at an aggregate purchase price of approximately $5.9 billion and an average Kraken Crypto Exchange purchase price per BTC of roughly $31,168.

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