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QCP: MicroStrategy’s increase in BTC holdings this week was the smallest purchase amount in recent weeks, triggering market doubts
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2024-12-25 20:03 5,214
Golden Finance reported that MicroStrategy announced on Monday that it spent $561 million to purchase 5,262 Bitcoins at a unit price of approximately $106,662, pushing the total number of Bitcoin holdings on the software company’s balance sheet to 444,262. But QCP analysts noted that “this is its smallest purchase in recent weeks, raising questions about its appetite to buy Bitcoin at current levels.” Additionally, analysts at QCP Capital noted in a report on Tuesday , currently, as 2024 draws to a close, enthusiasm in the cryptocurrency market appears to be waning. As of Monday, spot Bitcoin exchange-traded funds (ETFs) had experienced three consecutive days of outflows. (Morningstar)
Keywords: Bitcoin
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