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MicroStrategy already accumulates more than 444,000 Bitcoin (BTC).
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Now, the company has its sights set on entering the S&P500.
The computer services company, MicroStrategy has made another significant acquisition of bitcoin (BTC)further strengthening its position as the publicly traded company with the most bitcoin in its treasury.
According to a report recent filing with the United States Securities and Exchange Commission (SEC), The company acquired approximately 5,262 bitcoins for a total of $561 million in cashat an average price of $106,662 per bitcoin, between December 16 and 22, 2024.
This recent purchase follows a series of strategic moves the company has made over the years to grow its bitcoin portfolio. To date, MicroStrategy owns a total of approximately 444,262 bitcoinspurchased at an average cost of $62,257 per bitcoin, including fees and expenses.
Financing for the most recent purchase came from the issuance and sale of its class A shares, a move that generated both praise and criticism. While some investors see this as a bold and visionary tactic that underscores the company’s belief in bitcoin’s future as a store of value and inflation hedge asset, others are concerned about the risks that this could entail.
Still, the strategy is going well so far as MicroStrategy (MSTR) stock has hit new all-time highs this year and Today, December 23, they began listed on the Nasdaq 100 index just as CriptoNoticias advanced.
According to Lu Wang, an analyst at Bloomberg, “Michael Saylor (president of MicroStrategy) now has his sights set on inclusion in the S&P 500 (although Wall Street sees it as a long shot), emboldened by a change in accounting rules related to digital assets, a shift that could help it overcome an earnings hurdle next year.”
Wang explains that reaching the S&P500 will not be easy for MicroStrategy because even meeting all the eligibility criteria does not guarantee an immediate place. “MicroStrategy’s big bet on bitcoin and the already significant presence of technology companies are big potential disadvantages,” holds Wang.
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