MicroStrategy, the American development company founded by Michael Saylor, expanded its Bitcoin holdings by 11,000 BTC, equivalent to $1.1 billion, as revealed in a January 21 post on X by the business intelligence executive.
MicroStrategy’s $1.1 Billion Bitcoin Acquisition
According to Saylor’s post on Tuesday, the company’s latest Bitcoin acquisition raises its total holdings to 461,000 BTC, valued at $29.3 billion. The average cost per Bitcoin in the company’s portfolio stands at $63,610.
MicroStrategy’s official filing with the United States Securities and Exchange Commission (SEC) indicates the purchase was finalized during the week ending January 19.
This acquisition further solidifies the Virginia-based firm’s status as one of the largest corporate holders of Bitcoin.
Saylor joined in on some of the festivities on Capitol Hill, posting photos alongside United States Secretary of Health and Human Services nominee Robert F. Kennedy Jr., Trump’s son-in-law Jared Kushner, and Department of Government Efficiency head Vivek Ramaswamy.
“The future is bright,” Saylor quipped in photos from the event.
Crypto Community Awaits Executive Order
MicroStrategy’s latest purchase coincides with ongoing discussions about cryptocurrency regulation in the United States.
President Donald Trump, who has expressed support for the digital asset industry, indicated during his campaign and at the Bitcoin 2024 Conference that his administration would work towards a crypto-friendly regulatory framework.
Trump stated at the conference, “We will have regulations, but from now on, the rules will be written by the people who love your industry, not hate your industry.”
Despite these remarks, some in the cryptocurrency community were left disappointed when no mention of blockchain or digital assets appeared in the official January 20 White House briefing outlining Trump’s initial priorities, which focused on immigration and government efficiency.
Reports had suggested that Trump might sign a crypto-related executive order on his first day in office, but no such announcement has been made as of Tuesday morning.
Variant Fund CLO Jake Chervinsky commented on X that a crypto-related executive order could be expected soon but cautioned that its immediate impact on law or regulation would likely be limited.
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