Bitcoin investment grows as MicroStrategy buys $209M worth in a week
MicroStrategy has expanded its Bitcoin holdings
MicroStrategy has expanded its Bitcoin holdings for the eighth consecutive week, purchasing an additional 2,138 BTC for $209 million.
This acquisition brings the company’s total bitcoin stash to 446,400 BTC, solidifying its position as the largest bitcoin holder among publicly traded firms, according to Coindesk.
The purchase was funded through share sales under MicroStrategy's at-the-market (ATM) program, which still has $6.88 billion in capacity. The company disclosed that the average purchase price of this latest batch of bitcoin was $97,837, raising its overall average purchase price to $62,428.
A Strategic Focus on Bitcoin
Executive Chairman Michael Saylor, a prominent advocate for bitcoin, teased the announcement on X, continuing his vocal support for the cryptocurrency as a strategic asset. MicroStrategy, which now ranks 57th on the Nasdaq 100 with an index weighting of 0.38%, has tied its corporate identity to the performance of bitcoin.
The company’s aggressive bitcoin accumulation reflects its belief in the cryptocurrency’s long-term value, despite the volatility associated with digital assets.
Its share price, however, remains under pressure, currently trading 40% below its November 2021 record high. In pre-market trading on December 30, shares were down 3% at around $320.
This latest purchase underscores MicroStrategy’s ongoing bet on bitcoin as a store of value, even as market observers continue to debate the risks and rewards of such a concentrated approach. As cryptocurrency adoption grows globally, MicroStrategy’s moves will likely remain a barometer for institutional confidence in digital assets.
Recently, MicroStrategy (MSTR) has entered the top 100 publicly traded U.S. companies, ranking 97th overall. This milestone follows a 12% surge in its stock price to $430 per share, driven by Bitcoin's all-time high.
