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MicroStrategy buys another 21,550 Bitcoins
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MicroStrategy bought more Bitcoin (BTC) and made its fifth consecutive weekly purchase, in a period dating back to early November. This time, the company purchased 21,550 BTC for $2.1 billion.
With this new purchase, the MicroStrategy raises its total holdings to 423,650 BTC and reaches 2% of the cryptocurrency supply under its ownership. However, the company’s shares are down 3.58% and are priced at US$377, which is an ideal scenario for those who set up securities sales operations.
In a press release, MicroStrategy announced that it acquired 21,550 for $2.1 billion at an average price of $98,783 per BTC. This time, with the price dropping to the $97,000 region, the company records a slight loss in this operation.
However, the company reported that it had BTC yields of 43.2% in the quarter and 68.7% in the year. The company paid US$25.6 billion for its more than 400 thousand BTC at an average price of US$60,324 per unit.
More 21,550 Bitcoins
MicroStrategy made this recent purchase between December 2nd and December 8th, marking the fifth consecutive week of acquisitions. And recently, the company co-founder, Michael Saylor, asked the United States to sell its gold to buy Bitcoin.
Along with this order, the company revealed a plan for a $42 billion purchase. The plan was nicknamed “Plan 21/21“, as it involves the issuance of US$21 billion in shares and another US$21 billion in debt.
Other companies are also looking to emulate MicroStrategy’s Bitcoin strategy. One of the most recent was the Worksport, which decided to allocate 10% of BTC in its cash.
Even with purchasing BTC, the company’s shares (MSTR) fell throughout the day. Data from Nasdaq shows the shares are trading around US$377, below the closing price of US$395 on Friday (6). On the other hand, the company still records gains of 4% in the last seven days.
Meanwhile, the price of Bitcoin fell sharply and reached US$97,719, accumulating losses of 2.2% in the last 24 hours. The falling price reflects the loss of some of the market’s buying strength, as trading volume fell by around 12%.
MicroStrategy buys another 21,550 Bitcoins
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MicroStrategy buys another 21,550 Bitcoins
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MicroStrategy buys another 21,550 Bitcoins
