MicroStrategy Sets Records with Bitcoin Buys Ahead of Nasdaq 100 Entry

MicroStrategy has intensified its Bitcoin purchases in 2024, outpacing the scale of its acquisitions during the 2021 bull market.

November alone saw record-breaking activity, with the company buying 27,200 BTC at $74,000 per coin, followed by 51,780 BTC a week later, and culminating in its largest-ever purchase of 55,500 BTC at $97,000 per coin. This dwarfs its peak 2020 acquisition of 29,646 BTC at $21,000 each.

The company’s aggressive strategy has encouraged other firms to view Bitcoin as a viable treasury asset, signaling growing institutional interest in the cryptocurrency. Market observers see this shift as a significant boost for Bitcoin’s liquidity and long-term prospects.

MicroStrategy is also poised to join the Nasdaq 100 index on December 23, providing indirect Bitcoin exposure to traditional stock investors through popular ETFs like the Invesco QQQ Trust. This inclusion highlights the growing integration of crypto assets into mainstream financial markets.

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In preparation for this milestone, the firm has added high-profile executives to its board, including former Binance.US CEO Brian Brooks and Galaxy Digital board member Jane Dietze. Co-founder Michael Saylor remains unwavering in his belief in Bitcoin, predicting that the company will continue purchasing the asset even as its price reaches unprecedented levels, potentially $1 million per coin.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.