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MicroStrategy Continues Bitcoin Buying Spree with $209M BTC Added
Business intelligence company MicroStrategy has continued its relentless pursuit of bitcoin (BTC) by adding 2,138 new units to its treasury. This latest purchase, valued at a staggering $209 million, has boosted the firm’s overall holdings to an impressive 446,400 BTC.
This is the eighth consecutive purchase made by the company in just over two months, demonstrating MicroStrategy’s unwavering commitment to bitcoin. The transaction brings the total value of its cumulative investment to a substantial $27.9 billion, with an average acquisition price of $62,428 per BTC.
The company’s latest QTD Bitcoin yield now stands at 47.8%, while the YTD yield has reached a remarkable 74.1%. This aggressive accumulation of bitcoin has led to MicroStrategy becoming the largest publicly traded firm to hold such a large quantity of cryptocurrency.
Despite this significant investment, the company’s stock price has taken a hit, with MSTR shares plummeting by over 7% to approximately 305.69 on Monday, December 30. However, it is essential to note that the stock has seen significant growth, increasing by more than 346% on a year-to-date basis.
It is worth mentioning that Michael Saylor, Executive Chairman of MicroStrategy, remains resolutely bullish on bitcoin and its potential for future growth. He recently announced his intention to continue purchasing bitcoin as part of the company’s newly implemented 21-21 policy.
Source: www.cryptonewsz.com
