Michael Saylor’s Microstrategy recently announced a new Bitcoin purchase that took the company’s total to 439,000 BTC.
Microstrategy Bought Another 15,350 BTC
The biggest buyer that has been consistent during this recent Bitcoin bull run has been Microstrategy. The price of the cryptocurrency has been rising while the company has been accumulating and it is evident even in the current higher institutions that the company feels done, as it has announced a new purchase.
During this latest buying event, the company received a total of 15,350 BTC for approximately $1.5 billion at an estimated price of $100,386 per token between December 9 and 15.
In a new post on X, CryptoQuant community analyst Maartunn shared a chart that visualizes the points Microstrategy has bought at over the past few 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 much smaller than the BTC value, but not the USD value, as it slightly exceeds the 15,400 coins purchased at the beginning of the month due to the commodity price continuing to see appreciation since then.
Microstrategy’s total Bitcoin holdings have now risen to 439,000 BTC, as the chart below shows.
The growth in the Microstrategy BTC holdings over the years | Source: @JA_Maartun on X
From the chart, it can be seen that the company’s buying during the bull run so far has been more aggressive than the 2021 rally, making this latest rally the largest it has participated in.
In total, the company spent $27.1 billion to buy its BTC over the years, with an estimated value of 61,725. So, it seems that Michael Saylor’s bet was working, his company is sitting on a profit of more than 72% at the current price.
In other news, as Bitcoin set a new all-time high (ATH) above the $106,000 level, on-chain analytics company Glassnode shared what the build-up leading up to this event looked like from the perspective of its new Cost Basics. Distribution tool (CBD).
The distribution of the BTC supply across the various cost basis levels | Source: Glassnode on X
CBD is an indicator that tells how much of the cryptocurrency supply was last purchased (based on the last transaction amount or Guaranteed Value of each token in circulation) at different price levels.
As seen in the chart, Bitcoin investors participated in a significant amount of buying and selling between $96,000 and $100,000, with the $97,000 to $98,000 range mainly representing the handling of the 500,000 BTC cost base.
Above the $100,000 level, trading activity has continued, but so far, investors have not built any significant collections, levels above $103,000 are very thin for coins.
BTC price
At the time of writing, Bitcoin is floating around $106,400, up more than 8% in 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
Source link