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    MicroStrategy intensifies Bitcoin acquisition spree, influences peers and joins Nasdaq 100

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    HI, How MicroStrategy leverages debt to accumulate Bitcoin, BTC, B-man, accumulation, investment, investing, congestion, cluster, crowd, plenty, mass, Microstrategy, MicroStrategy

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    MicroStrategy continues to invest heavily in Bitcoin, buying 27,200, 51,780, and 55,500 units in November 2024 at prices up to $97,000. It also made a sizable buy in December 2020, during the Bitcoin boom when each coin was worth around $21,000. The company’s aggressive buying strategy has spurred other businesses to follow suit. On Dec. 23, MicroStrategy joined the Nasdaq 100 list as well, and has added personnel to its board of directors. The company’s co-founder, Michael Saylor, has expressed willingness to continue buying Bitcoin even if the price reaches $1 million per coin.

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    MicroStrategy, a tech company, can’t seem to get enough Bitcoin. They’ve been periodically buying up the cryptocurrency, breaking new records from the booming market of 2021. Just in November 2024, they splashed out on 27,200 Bitcoin at roughly $74,000 per Bitcoin on Nov. 10, grabbed another 51,780 Bitcoin on Nov. 17, and then snagged a whopping 55,500 Bitcoin at around $97,000 each on Nov. 24.

    Back during the Bitcoin blitz from 2020 to 2021, the biggest single purchase they made was for 29,646 Bitcoin on Dec. 21, 2020, when each Bitcoin was worth about $21,000. Their method of stocking up on Bitcoin has even inspired other companies to do the same, and a lot of traders think it could drive Bitcoin prices up as more traditional investors start moving their money into Bitcoin.

    In addition to their Bitcoin shopping spree, MicroStrategy is also moving on up on the stock market. On Dec. 23, 2024, they’re set to join the Nasdaq 100 list, which is a heavyweight league of the 100 biggest companies listed on the Nasdaq exchange. This could be good news for stock investors with an interest in Bitcoin since it gives them a way to get exposure without having to buy Bitcoin directly. This includes those who’ve got a stake in the Invesco QQQ Trust, an exchange-traded fund with around $322 billion in its control.

    With their new position on the Nasdaq, MicroStrategy has also beefed up their board of directors. They’ve added some new faces, including former Binance.US CEO Brian Brooks, Jane Dietze from the board of Galaxy Digital, and Fanatics Holdings’ Gregg Winiarski.

    MicroStrategy’s co-founder, Michael Saylor, has told Yahoo Finance that he’s not done with Bitcoin just yet, even if the price keeps climbing. In fact, he said he’s ready and willing to keep buying Bitcoin even if it hits $1 million a pop, and he’s prepared to spend a cool $1 billion a day doing it.

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