Bitcoin Rebounds as Major Institutions Continue Buying

Bitcoin has rebounded strongly, reaching $95,000, leading the entire cryptocurrency market to rally. This rally was fueled by a wave of aggressive buying from large corporations, bringing positive signals before the end of 2024.

MicroStrategy Chairman Michael Saylor has just announced that his company has added 5,262 Bitcoins to its portfolio, with a total value of $561 million. This move continues to affirm the strategy of buying Bitcoin regularly that he has been pursuing.

Notably, this is MicroStrategy’s third Bitcoin purchase in December alone. Just a week ago, the company spent $1.5 billion to own Bitcoin at an average price of $100,386. Under Saylor’s leadership, MicroStrategy has not only become one of the largest Bitcoin holders globally but also shown its determination to continuously expand its reserves.

“MicroStrategy purchased 5,262 BTC for a total value of approximately $561 million, representing an average price of $106,662 per Bitcoin, and returned 47.4% in the last quarter and 73.7% over the past year. As of December 22, 2024, we hold a total of 444,262 BTC, purchased for approximately $27.7 billion, representing an average price of $62,257 per Bitcoin,” Michael Saylor stated.

Since the cryptocurrency price surge in November, Saylor has repeatedly expressed his intention to increase his Bitcoin holdings on a large scale. The recent surge in Bitcoin prices has brought impressive returns to MicroStrategy. Notably, he also revealed plans to buy more BTC to mark the milestone of the company’s official inclusion in the NASDAQ-100 index.