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MicroStrategy Buys 2,138 BTC to Bring Stash to 446,400
In a recent move, MicroStrategy has added 2,138 new Bitcoins to its existing stash of 444,262. This latest purchase brings the company’s total holdings to an astonishing 446,400 BTC.
As part of this acquisition, the company has spent a significant amount of capital, totaling $27.9 billion, with an average purchase price of $62,428 per Bitcoin. The value of this investment is substantial and demonstrates MicroStrategy’s unwavering commitment to its cryptocurrency holdings.
According to recent data, the company has seen a BTC yield of 47.8% quarter-to-date and a staggering 74.1% year-to-date. This impressive performance suggests that the company’s strategy of holding onto Bitcoin could be paying off in a big way.
In contrast, the current market situation shows that Bitcoin is trading around $93,114 at the time of writing, reflecting a negative daily and weekly price movement with losses of 1.8% over the past 24 hours and 2.6% over the past week.
MicroStrategy’s stock also showed some unexpected volatility, dropping by 13.3% in pre-market trading amid rumors that the company may be considering another substantial purchase. As a result, MSTR closed at $330 on December 27 but hovered around $319 at 8:30 ET on December 30.
In conclusion, this significant investment further solidifies MicroStrategy’s position as one of the largest institutional investors in Bitcoin.
Source: coinjournal.net
