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MicroStrategy Continues to Expand Bitcoin Holdings, Acquiring Additional 2,138 BTC
In a recent announcement, MicroStrategy, a business intelligence company, has revealed that it has added 2,138 new Bitcoins (BTC) to its already substantial stash. This move brings the company’s total holdings to an impressive 446,400 BTC.
The acquisition was made at an average purchase price of $62,428 per bitcoin, with the total cost amounting to a staggering $134.6 million. This massive injection is a testament to MicroStrategy’s commitment to its Bitcoin strategy, which has seen significant returns in recent times.
At the time of writing, Bitcoin’s current market price sits at around $93,114, marking a 1.8% decline over the past 24 hours and a 2.6% slide over the weekly period.
Interestingly, this surge in buying from MicroStrategy comes despite the cryptocurrency’s short-term negative performance. The company has seen an impressive BTC yield of 47.8% quarter-to-date and 74.1% year-to-date.
It is essential to note that MicroStrategy’s stock (MSTR) fell by 13.3% in pre-market trading, potentially indicating a disconnect between the company’s Bitcoin holdings and its publicly traded shares.
Source: coinjournal.net
