Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR)
MicroStrategy (MSTR), the software developer that has made acquiring bitcoin (BTC) a core value, added to its holding for a seventh week in a row.
The company bought 5,262 BTC for a total of $561 million in the week ended Dec. 22 to take its total holdings to 444,262 BTC it said.
The purchase, at an average price of $106,622 per bitcoin, was teased by Executive Chairman Michael Saylor in a Sunday post on X. It brings the value of MicroStrategy’s holdings to $42.2 billion at current market prices and raises the average cost to $62,257 per bitcoin.
The latest acquisitions were funded by share sales under the company’s at-the-market program (ATM). MicroStrategy has $7.08 billion left on the ATM program.
The announcement comes the same day that MicroStrategy starts trading as a member of the Nasdaq 100 equity index. The share price is little changed in pre-market trading, over $364.2.
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James Van Straten
https://www.coindesk.com/markets/2024/12/23/micro-strategy-buys-a-further-5-262-btc-as-stock-joins-nasdaq-100
2024-12-23 13:12:03
