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Cryptocurrency News Articles
Michael Saylor Highlights Hut8's Big Bitcoin Purchase
Dec 20, 2024 at 03:10 am
The miner has acquired this BTC batch for approximately $100 million, paying roughly $101,710 per coin on average.
Michael Saylor (NYSE:MSTR), who founded MicroStrategy and spearheads it first as the CEO and now as an executive chairman, has published an important X post about Bitcoin spot ETFs.
Those inflows comprise hundreds of millions of US dollars. The smallest one constituted $103 million on November 27. The largest one comprised $766.66 million on December 5. The most recent inflow featured in the table on the screenshot was registered on November 18 and was $275.39 million.
“Probably nothing,” Michael Saylor tweeted. The Bitcoin ETFs were approved for trading in January this year. Since then, more than a dozen Bitcoin funds entered the market and began accumulating BTC on a daily basis.
Saylor highlights Hut8's big Bitcoin purchase
The miner has acquired this BTC batch for approximately $100 million, paying roughly $101,710 per coin on average. Similar to Saylor’s company, Hut8 is building up its own strategic Bitcoin reserve which after this new acquisition constitutes more than 10,000 BTC worth approximately $1 billion as of December 18.
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