In the latest post, MicroStrategy’s chairman, Michael Saylor, revealed the acquisition of 5,262 Bitcoins for $561 million, further growing the company’s Bitcoin pile amid bullish momentum in the crypto market.
The company achieved a quarter-to-date (QTD) Bitcoin yield of 47.4% and a year-to-date (YTD) yield of 73.7%. As of December 22, 2024, MicroStrategy holds 444,262 BTC, acquired for a total of $27.7 billion at an average cost of $62,257 per BTC.
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/asDGerBV7q32
— Michael Saylor⚡️ (@saylor) December 23, 2024
Crypto Expert Warns of More Pain for Bitcoin Holders
After BTC surged to a new all-time high of $108,000 last week, the momentum faltered following the Federal Reserve chairman Jerome Powell’s remark on Fed cuts rates.
The Federal Reserve cut rates by 25 basis points last week but projected only two rate cuts for next year, which is lower than the three initially expected. The price quickly plunged to $92,000 on Thursday.
The hawkish stance caused Bitcoin to drop sharply, losing 14% to hit $92,000. Cooler-than-expected inflation data provided slight relief, lifting Bitcoin to $93,364.82 at the time of writing, according to CoinMarketCap. However, this is still below the critical $100,000 level.
Andre Dragosch, Bitwise’s Europe head of research, has turned cautious after Bitcoin’s 8.8% dip last week, the largest since August. Dragosch highlighted tightening financial conditions despite rate cuts and rising consumer inflation as reasons for potential further losses.
“The Fed is stuck between a rock and a hard place as financial conditions have continued to tighten despite 3 consecutive rate cuts since September. Meanwhile, real-time measures of consumer price inflation have re-accelerated over the past months to new highs as well judging by truflation‘s indicator for U.S. inflation,” Dragosch said.
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