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MicroStrategy increases Bitcoin holdings for 8th week in a row
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MicroStrategy, known as one of the biggest advocates of Bitcoin (BTC) among publicly traded companies, announced the expansion of its cryptocurrency reserves for the eighth consecutive week.
According to the announcement, the company acquired 2,138 BTC worth US$209 million during the week ending December 29th. In other words, MicroStrategy paid an average value of US$97,837 per BTC, according to a filing sent to the United States Securities and Exchange Commission this Monday (30).
The new acquisition increases the company’s total holdings to 446,400 BTC.
As mentioned, the transaction had an average price of $97,837 per BTCwhich increased the company’s overall average purchase price to $62,428 per unit. The acquisition was financed by the “at-the-market” (ATM) share sales program, which still has an available balance of US$6.88 billion.
The company’s executive chairman, Michael Saylor, announced the purchase in a post on X (formerly Twitter).
Last week, MicroStrategy joined the Nasdaq 100 index, which brings together the 100 largest non-financial companies listed on Nasdaq. Currently, the company occupies the 57th position in the indexwith a weight of 0.38%.
Despite the addition to the index, MicroStrategy’s stock performance has been choppy. The price of shares is 40% below the all-time high recorded on November 21 and fell 3% in pre-marketbeing traded around $320 per share.
THE MicroStrategy is the largest holder of Bitcoin among publicly traded companies, consolidating its long-term strategy focused on cryptocurrency.
Since adopting this approach, the company has been consistently acquiring BTCeven in periods of market volatility, using strategies such as financing through share sales to support your purchases.
With this new acquisition, MicroStrategy reaffirms its role as one of the main institutional players in the cryptocurrency marketfurther expanding its already significant participation in the ecosystem.
MicroStrategy increases Bitcoin holdings for 8th week in a row
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MicroStrategy increases Bitcoin holdings for 8th week in a row
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MicroStrategy increases Bitcoin holdings for 8th week in a row
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MicroStrategy increases Bitcoin holdings for 8th week in a row
