MicroStrategy’s Bitcoin Streak Continues
Unwavering Commitment to Cryptocurrency
MicroStrategy, a pioneer in bitcoin development, has once again demonstrated its unwavering commitment to the world’s largest cryptocurrency. For the eighth consecutive week, the company has increased its bitcoin holdings, solidifying its position as the largest publicly traded bitcoin holder.
A Significant Purchase
In the week ending December 29, MicroStrategy acquired an additional 2,138 bitcoins, valued at $209 million. This brings its total bitcoin holdings to a staggering 446,400. The average purchase price of bitcoin was $97,837, raising the overall average purchase price to $62,428.
Funding the Purchase
The purchase was made possible through share sales under the company’s at-the-market (ATM) program, which still has $6.88 billion available. This strategic move allows MicroStrategy to continue growing its bitcoin portfolio without depleting its cash reserves.
Market Performance
MicroStrategy’s recent addition to the Nasdaq 100 index has not gone unnoticed. Currently ranked 57 with an index weighting of 0.38%, the company’s share price has experienced a 40% decline from its record high on November 21. As of pre-market trading, the share price stands at around $320 per share, down 3% from its previous close.
Executive Chairman’s Teaser
Michael Saylor, MicroStrategy’s Executive Chairman, took to X to tease the announcement, generating buzz among investors and cryptocurrency enthusiasts alike. As the company continues to bet big on bitcoin, one thing is clear: MicroStrategy is committed to being a driving force in the cryptocurrency space.
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