Crypto finished the last week of 2023 on a sideways chop, with the Nasdaq Crypto Index (NCI) falling 1.6%, bitcoin (BTC) down 2.4%, and ether (ETH) having a minor uptick of 0.2%. BTC completed a four-month green streak, rising 12.8% in the last month of 2023 and finishing the year up 157%. ETH followed with a 12.3% increase in December and a total uptick of 90.8% in 2023. The NCI has risen 132.6% in 2023, showing its strength as the benchmark for the digital asset space.
Spot BTC ETF race heats up
Bitcoin turns 15 after its best pre-halving year since 2011
Bitcoin turns 15 on January 3rd. 2023 was Bitcoin’s fourth pre-halving year, that is, a year preceding the halving event in which the issuance of new BTC is cut in half. After a 157% upside for the asset, 2023 surpassed the two previous pre-halving years of 2015 and 2019, in which BTC rose by 35.0% and 92.5%, respectively. This remarkable performance is a clear indication that bitcoin’s recovery phase was indeed started in early 2023, reassuring the asset’s resilience in preparation for 2024, a new year where opportunity meets optimism.
MicroStrategy adds 14,620 BTC to its balance sheet
On its December 27, 2023 form 8-K, Michael Saylor’s MicroStrategy (MSTR) reported an acquisition of an additional 14,620 BTC, with the US business intelligence company now holding a total of 189,150 BTC at an average cost basis of $31,168 per bitcoin, establishing itself as a leader in corporate adoption of bitcoin as a balance sheet strategy. After carrying an unrealized loss of nearly $2 billion in late 2022, MicroStrategy’s bitcoin bet is, as of the 2023 close, up by $2 billion, with the company getting increasingly closer to holding 1% (210,000 BTC) of the fully diluted BTC supply. MSTR finished 2023 with an impressive 346.1% upward move.
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