MicroStrategy Adds Bitcoin for 8th Consecutive Week!

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📅 Today

MicroStrategy Adds Bitcoin for 8th Consecutive Week!

MicroStrategy has acquired Bitcoin for eight consecutive weeks, increasing its average purchase price to $62,428 per BTC. Last week, the company spent $209 million to buy 2,138 BTC.

Since 2020, MicroStrategy has invested over $27.9 billion in Bitcoin. With $6.88 billion remaining from its ATM program, the company is likely to continue its weekly purchases for the foreseeable future.

Despite its aggressive Bitcoin strategy, MicroStrategy's stock is down 50% from last month’s peak.

BTC ETF Outflows Surge!

Spot Bitcoin ETFs faced a tough end to the year, with outflows totaling $426.13 million on Dec. 30.

This followed $387 million in net withdrawals during Christmas week, marking the largest decline since September.

Despite these setbacks, cumulative net inflows for Bitcoin ETFs reached $35.24 billion this year, with total assets under management at $106 billion, equivalent to 5.6% of Bitcoin’s market capitalization.

BTC risks re-testing the $85,000 levels if these inflows do not pick up soon.

• Weekly on-chain insights.

• 3-5 altcoin chart setups.

• In-depth Bitcoin price updates.

• Occasional in-depth reports on altcoin gems.

• VC funding roundups.

• Market cycle insights.

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🌎 Other News

• Trader turns $55k into $1M as Elon Musk changes account name to Kekius Maximus. Read more

• Justin Sun dumps more Ethereum. Read more

• Bitcoin Spot ETF Outflows Reach $426M Over Two Days. Read more

• Hyperliquid opens $HYPE staking on mainnet. Read more

• $16 Billion Worth of FTX Repayments Set for 2025. Read more

📕 Educational

Both of the above charts indicate bullish signs by long-term and whale holders, who are not only seemingly accumulating Bitcoin, but also transferring them to cold wallets, indicating that they intend to hold their coins for the long-term.

This is quite bullish for Bitcoin, going into 2025.

📊 Stat of the day

🤣 Meme of the day

That concludes our update for today!

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Disclaimer: None of the content shared in the newsletter is financial advice. Always do your own research and analysis before investing.