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Microstrategy Buys More Bitcoin: Another $1.5 Billion Added To Holdings
Michael Saylor’s Microstrategy has just announced a new Bitcoin purchase that has taken the firm’s total holdings to 439,000 BTC.
Microstrategy Has Bought Another 15,350 BTCA large buyer that has had a constant presence during this latest Bitcoin bull run has been Microstrategy. The cryptocurrency’s price has been racing up while the company has been accumulating and it seems even at the current highs the firm doesn’t feel done, as it has announced a new purchase.
During this latest buying spree, the company acquired a total of 15,350 BTC for approximately $1.5 billion at an average price of $100,386 per token between the 9th and 15th of December.
In a new post on X, CryptoQuant community analyst Maartunn has shared a chart that visualizes the points at which Microstrategy has made purchases during the last couple of months.
Out of these six buys, the latest purchase is the smallest in BTC value, but not so in USD value, as it slightly outweighs the 15,400 coins buy from earlier in the month thanks to the asset’s price continuing to see appreciation since then.
The total Bitcoin holdings of Microstrategy have now risen to 439,000 BTC, as the below chart shows.
From the chart, it’s visible that the firm’s buying during this bull run so far has been more aggressive than during the 2021 rally, making this latest accumulation spree the largest that it has participated in.
In total, the company has spent $27.1 billion to buy its BTC over the years, at an average price of $61,725. Thus, it seems Michael Saylor’s bet has been working out, with his firm sitting on profits of more than 72% at the current price.
In some other news, as Bitcoin has set a new all-time high (ATH) beyond the $106,000 level, the on-chain analytics firm Glassnode has shared how accumulation leading up to this milestone has looked from the perspective of its its new Cost Basis Distribution (CBD) tool.
The CBD is an indicator that tells us how much of the cryptocurrency’s supply was last purchased (based on the last transaction price or Realized Price of each token in circulation) at the different price levels.
As is visible in the chart, Bitcoin investors participated in a notable amount of buying and selling between $96,000 and $100,000, with the $97,000 to $98,000 cluster particularly standing out for hosting the cost basis of 500,000 BTC.
Above the $100,000 level, trading activity has continued, but so far, the investors haven’t built up any significant supply clusters yet, with levels above $103,000 being especially thin with coins.
BTC PriceAt the time of writing, Bitcoin is floating around $106,400, up more than 8% over the last seven days.
South Korea Should ‘Quickly Institutionalize’ Crypto, Stock Exchange Chief Says
Korea Exchange’s chief recently suggested that South Korea must review its crypto approach and institutionalize digital assets soon to compete against other nations. The call for change comes amid the country’s political turmoil, which has halted all related regulations until 2025.
Korea Exchange Chief Calls For A ChangeOn Sunday, Jeong Eun-bo, chairman of the South Korea Stock Exchange, called for the institutionalization of crypto in the country. In an interview with the local newspaper Maeil Kyungjae, Jeong stated that lawmakers and financial institutions must look at digital assets differently.
The chairman argued that the crypto industry has significantly grown in recent years, making it considerably influential. As such, “it cannot be ignored by traditional markets,” adding that South Korea should try incorporating digital assets into institutional finance.
Moreover, Jeong considers that the South Korean crypto market needs to be revitalized to compete with other countries and prevent falling behind international markets. The current treatment of digital assets has made the market fail to cross various regulatory thresholds for years, challenging the market’s development and competitiveness.
If we continue to vaguely treat cryptocurrencies as speculative assets and hold those who adopt them liable, we will fall behind in international competitiveness.
The Korea Exchange chairman shared that the digital assets market’s future was “seriously discussed” at the recent World Federation of Exchanges (WFE) meeting, debating that it would be “difficult” for stock exchanges to maintain “the traditional market’s profit model by neglecting the crypto market.”
As a result, he suggested that South Korea should strive to “quickly institutionalize the crypto market to generate new added value.” Jeong noted that after the post-US election rally started in early November, the digital assets market overtook the domestic stock market.
As reported by Bitcoinist, the crypto market’s trading volume surpassed the local stock market’s $14 billion volume by 22%. Additionally, South Korean exchanges recorded their largest levels this year, hitting $34 billion amid the political turmoil.
Crypto Regulations On Pause Until 2025Despite Jeong’s call for revitalizing the market and institutionalizing digital assets, crypto-related regulations will be suspended until the political crisis resolution, which could take a few months.
On December 3, South Korean President Yoon Suk Yeol declared the first emergency martial law in four decades, causing panic among Koreans. Yoon accused the country’s opposition Democratic party, which has a majority in the National Assembly, of sympathizing with North Korea and anti-state activities.
He claimed that the measure was taken to “eradicate pro-North Korean forces and protect the constitutional democratic order.” However, the National Assembly voted to nullify the President’s declaration and successfully ended the emergency martial law in six hours.
Since then, the Assembly impeached Yoon, and his presidential powers have been suspended. The Constitutional Court is currently determining whether to remove Yoon from office or reinstate him, Associated Press reports.
Other local media outlets revealed that all crypto-related policies have been halted due to the country’s ongoing political issues. The report noted that the aftermath of the martial and impeachment has made it “impossible to expect a vote,” but expects discussions about digital assets regulation to resume in the first half of 2025.
The Court’s decision could take up to 180 days, with the first pretrial hearing scheduled for December 27.
Crypto Public Offers Under Scrutiny As UK FCA Proposes Ban – Details
The UK Financial Conduct Authority (FCA) has released a discussion paper outlining several proposals and inviting public feedback on crypto regulations in the country. Notably, one proposal seeks to ban public crypto offers from non-regulated entities.
Cryptocurrency Public Offers Draw The FCA’s AttentionAccording to the FCA, the proposals – detailed in the discussion paper titled “DP24/4” – aim to mitigate risks associated with digital assets while fostering growth and innovation within the sector. The paper is directed toward investors, crypto firms, industry groups, and other professional bodies involved in the virtual assets space.
One proposal garnering significant attention is a potential ban on public virtual assets offers. The UK government’s economic and finance ministry, HM Treasury, is pushing to outlaw most public crypto fundraising, with exceptions likely made for entities already operating in the UK or those qualifying under specific exemptions.
The FCA’s move aligns with broader efforts by regulators worldwide to tighten controls on unregulated offerings, which have often been associated with scams, investor losses, and market manipulation.
Draft legislation is expected to formalize the ban, signaling a notable regulatory shift. This development follows the FCA’s recent crackdown on Solana-based platform Pump.fun, which was barred from operating in the UK due to its failure to secure the necessary permit.
Beyond the proposed public offer ban, the FCA has also suggested that authorized digital assets trading platforms share market abuse data to identify and address suspicious activities. This initiative seeks to enhance transparency and improve user safety in the crypto sector.
The discussion paper further invites feedback on market admission, disclosure practices, and measures to tackle market abuse. The FCA has set a deadline of March 14, 2025, for stakeholders to submit their comments and input.
Other European countries have also called for global cooperation when it comes to regulating digital assets. For instance, countries like Denmark, Italy, and the Netherlands are mulling implementing tax monitoring rules to better align with European Union (EU) tax standards.
UK’s Digital Assets Stance: A Regulatory Overreach Or Necessity?This paper is part of a broader effort to define the UK’s crypto regulatory regime, with additional papers expected to follow. Notably, draft legislation is anticipated next year, with the full regulatory framework slated for implementation by 2026.
The timing of the discussion paper coincides with mounting concerns over low regulatory compliance among digital assets companies. A recent report revealed that nearly 90% of digital assets entities in the UK fail to meet anti-money laundering (AML) standards. Regulators worry that lax compliance could expose the financial system to illicit activities, including fraud and money laundering.
In October, the FCA was urged to investigate short-form video hosting platform TikTok over allegations of illegally operating as a cryptocurrency trading platform. These incidents underscore the watchdog’s increasing vigilance in safeguarding financial markets.
Despite regulatory challenges, virtual assets adoption in the UK remains strong. According to an FCA report, approximately 7 million UK adults currently hold digital assets.
While the FCA’s push for tighter regulations is aimed at protecting market participants, it faces the challenge of avoiding excessive measures that might drive digital assets businesses to relocate to more crypto-friendly jurisdictions. For instance, the US has seen renewed optimism following the election victory of pro-crypto candidate Donald Trump. At press time, Bitcoin (BTC) trades at $105,998, up 3.1% in the past 24 hours.