Michael Saylor’s company Microstrategy has just announced a new purchase of Bitcoin bringing the company’s total holdings to 439,000 BTC.
Microstrategy bought another 15,350 Bitcoin
A big buyer that was a constant presence during Bitcoin’s recent bull run was Microstrategy. The price of the cryptocurrency has been accelerating while the company has been accumulating, and it appears that even at the current highs, the company does not feel like it is finished, as it did. Announce New purchase.
During this latest buying spree, the company acquired a total of 15,350 Bitcoin for approximately $1.5 billion at an average price of $100,386 per token between December 9 and 15.
In new mail On X, CryptoQuant community analyst Maartunn shared a chart depicting the points at which Microstrategy made purchases over the past two months.
The six purchases that the firm has made during this bull run | Source: @JA_Maartun on X
Of these six purchases, the latest purchase is the smallest in terms of Bitcoin value, but not so much in US dollar terms, as it is slightly more than the 15,400 coins purchased earlier in the month thanks to the price of the asset continuing to rise since then. .
Microstrategy’s total Bitcoin holdings have now risen to 439,000 BTC, as seen in the chart below.
The growth in the Microstrategy BTC holdings over the years | Source: @JA_Maartun on X
From the chart, it appears that buying the company during this uptrend so far has been more aggressive than it was during the 2021 rally, making this recent accumulation spree the largest it has been involved in.
In total, the company has spent $27.1 billion buying Bitcoin over the years, with an average price of $61,725. Thus, Michael Saylor’s bet appears to have paid off, as his company has gained over 72% at the current price.
In some other news, as Bitcoin hit a new all-time high (ATH) above the $106,000 mark, on-chain analytics firm Glassnode shared what the buildup leading up to the milestone looked like from the perspective of its new cost basis distribution (CBD) tool.
The distribution of the BTC supply across the various cost basis levels | Source: Glassnode on X
The CBD is an indicator that tells us how much supply of cryptocurrency was recently purchased (based on the last transaction price or the realized price of each token in circulation) at different price levels.
As can be seen in the chart, Bitcoin investors engaged in a notable amount of buying and selling between $96,000 and $100,000, with a group between $97,000 and $98,000 in particular sitting around hosting the cost basis of 500,000 BTC.
Above the $100,000 level, trading activity has continued, but so far, investors have not built any significant supply groups yet, with levels above $103,000 being particularly vulnerable with coins.
Bitcoin price
At the time of writing, the price of Bitcoin is around $106,400, up more than 8% over the past seven days.
Looks like the price of the coin has shot up over the past day | Source: BTCUSDT on TradingView
Featured image from Dall-E, Glassnode.com, CryptoQuant.com, Chart from TradingView.com