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MicroStrategy Continues Aggressive Bitcoin Buying Spree
In a recent announcement, MicroStrategy, a publicly-traded business intelligence company, has revealed its latest bitcoin purchase. The firm has acquired an additional 2,138 bitcoins, bringing its total holdings to an astonishing 446,400 BTC.
According to the latest data, this strategic move would have cost MicroStrategy around $27.9 billion, with an average purchase price of $62,428 per bitcoin. While this significant investment may raise eyebrows among investors and analysts alike, it is evident that MicroStrategy remains committed to its crypto-friendly stance.
As a result of this aggressive buying strategy, the company has witnessed impressive results. Its Bitcoin Yield stands at 47.8% quarter-to-date and an impressive 74.1% year-to-date. Despite this surge in value, it’s worth noting that the cryptocurrency’s price remained negative on both daily and weekly time frames, trading around $93,114 at the time of writing.
On the other hand, MicroStrategy’s stock (MSTR) has taken a hit. In pre-market trading, it fell by 13.3% as investors began to reassess the company’s cryptocurrency holdings.
In light of this latest acquisition, it is essential to monitor any future price movements and adjust our expectations accordingly.
References:
– Title: MicroStrategy buys 2,138 BTC to bring stash to 446,400
Source: coinjournal.net
