US stocks opened higher this week, closing higher driven by the surge in chip stocks such as TSMC ADR and Nvidia. MicroStrategy announced that it has purchased an additional 5,262 bitcoins for approximately $561 million, with an average price of $106,662 per bitcoin. After being officially included in the Nasdaq 100 index on 12/23, the stock fell 8.78% to $332.23. The Christmas holiday in Europe and the US will start today, and trading is expected to be light. Will the crypto market see a Christmas rally this year?
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ToggleMicroStrategy Buys More BTC, Falls 8% After Joining Nasdaq 100
MicroStrategy announced that it has purchased 5,262 BTC for approximately $561 million, at an average price of $106,662 per BTC, realizing a 47.4% and 73.7% gain on BTC since the beginning of the quarter and the year, respectively. As of December 22, 2024, MicroStrategy has acquired 444,262 BTC for approximately $27.7 billion, at an average price of $62,257 per BTC.
MicroStrategy was officially included in the Nasdaq 100 index on 12/23, but its stock has performed poorly recently, falling 8.78% to $332.23 on the first day of inclusion, as BTC has pulled back recently.
Will There Be a Christmas Rally in Crypto This Year?
After experiencing a decline last week, cryptocurrencies generally rebounded yesterday. Today marks the start of the Christmas holiday in Europe and the US, with the stock market closing early and many foreign investors taking a break until after the New Year, so trading is expected to be light.
Will cryptocurrencies see a new wave of momentum before Christmas? Yesterday, artist Beeple showcased his latest creation on X, titled "Profit Taking", which features the head of Santa Claus and a polar "bear" nearby.
Risk Warning
Investing in cryptocurrencies carries a high degree of risk, and their prices may fluctuate dramatically. You may lose your entire principal. Please carefully evaluate the risks.
