MicroStrategy Transforms Into a De Facto Bitcoin ETF with New Purchases

While everyone is eagerly anticipating the approval of a spot Bitcoin ETF, one company has already resolved its ETF needs. Yes, I am talking about MicroStrategy. Under Saylor’s leadership, the company with its massive Bitcoin accumulation is effectively functioning as a spot Bitcoin ETF. MicroStrategy Buys Bitcoin MicroStrategy recently purchased another 12,333 BTC for approximately $347.0 million at an average price of $28,136 per Bitcoin. So, did the Bitcoin price react to this move? Not really, purchases made by Saylor’s company often do not concern the king of cryptocurrencies. In fact, we have seen the price fall several times after the purchase announcement. Just a few minutes ago, Michael Saylor announced the purchase as follows; MicroStrategy has purchased an additional 12,333 bitcoins for ~$347.0 million in cash at an average price of ~$28,136 per Bitcoin. We now hold 152,333 bitcoins, acquired for ~$29,668 per Bitcoin. Spot Bitcoin ETF Equals MSTR […] The post MicroStrategy Transforms Into a De Facto Bitcoin ETF with New Purchases appeared first on COINTURK NEWS.