MicroStrategy, the largest corporate holder of Bitcoin, has acquired an additional 5,262 BTC, spending $561 million at an average price of $106,662 per Bitcoin. This purchase brings the company’s total holdings to 444,262 BTC, with an average cost of $62,257 per Bitcoin. The announcement coincides with Bitcoin approaching a critical support level at $92K.

MicroStrategy is set to join the Nasdaq 100 index on December 23, 2024. This inclusion will position the company among the top 100 firms on the Nasdaq, providing indirect Bitcoin exposure to investors in the Invesco QQQ Trust, an ETF managing $322 billion in assets.

BTCUSD Corrects After $108K High, $92K Support Level in Focus

BTCUSD has been undergoing a bearish correction on the daily chart. After reaching a high of $108K, it has been moving south with strong momentum. However, the $92,000 level appears to be a potential support. The price has reacted at this level multiple times before, and last week, it formed a bullish Pin Bar on the daily chart. These factors make this level an important one to watch.

MicroStrategy has acquired 5,262 BTC for ~$561 million at ~$106,662 per bitcoin and has achieved BTC Yield of 47.4% QTD and 73.7% YTD. As of 12/22/2024, we hodl 444,262 $BTC acquired for ~$27.7 billion at ~$62,257 per bitcoin. $MSTR https://t.co/asDGerBV7q

— Michael Saylor⚡️ (@saylor) December 23, 2024

MicroStrategy Appoints New Bitcoin-Focused Board

The company has also made leadership changes. New board members include Brian Brooks, former CEO of Binance.US and US Comptroller of the Currency; Jane Dietze, a board member at Galaxy Digital; and Gregg Winiarski from Fanatics Holdings. These additions signal the company’s focus on Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term.

Michael Saylor, co-founder and outspoken Bitcoin advocate, has reaffirmed his belief in buying Bitcoin at peak prices throughout its life cycle.

Earlier, MicroStrategy acquired an additional 15,350 BTC for about $1.5 billion. Despite increasing its Bitcoin reserves, the company faces scepticism regarding its strategy of funding acquisitions through equity and debt, as reported by Finance Magnates.

With a $92 billion market capitalization, MicroStrategy's stock is trading at a premium relative to its Bitcoin net asset value, which has raised concerns among investors.