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MicroStrategy, one of the top firms with the largest amount of Bitcoin holdings is not backing out anytime soon. The public-traded firm has added more Bitcoin. In other news, the Everlodgereal estate market giant has launched a new feature that has become the talk of the town.

MicroStrategy Doubles Down on Bitcoin (BTC) Holdings Ahead of 2024 Price Surge

On November 30th, Michael Saylor, the co-founder of MicroStrategy, announced that the company had acquired more Bitcoin (BTC). They purchased these Bitcoins for about $593.3 million, which was equivalent to $36,785 per Bitcoin.

MicroStrategy now holds 174,530 BTC, valued at around $6.8 billion. The recent announcement from MicroStrategy comes just after Bitcoin ended November with gains of approximately 10%.

The company had made $900 million from its Bitcoin holdings as of Q3 2023. CEO Phong Le has also suggested that the company will keep making regular purchases. In the meantime, the price of Bitcoin has held firm at over $38,000, maintaining its critical support.

There are various reasons why the market sentiment is currently bullish. The US Federal Reserve’s position, the impending Bitcoin halving, and the launch of a spot Bitcoin ETF are all noteworthy. As far as short-term technical advantage goes, bulls are in control right now.

A bullish outlook can be observed from a recent analysis of the Bitcoin price history. Eight out of the past thirteen years, Bitcoin has ended the fourth quarter with gains. This historical pattern increases the excitement around the current December, raising expectations among the cryptocurrency community.

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Author: Crypto Daily

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