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MicroStrategy has continued its aggressive accumulation of Bitcoin, adding 2,138 new coins to its reserves at a staggering cost of $209 million. This brings the company’s total holdings to an impressive 446,400 BTC.
According to a recent press release, MicroStrategy acquired the additional 2,138 BTC at an average cost of $97,837 per coin. This marks the eighth consecutive purchase made by the company over the past two months.
The Bitcoin yield for the quarter-to-date now stands at 47.8%, while the year-to-date yield has reached a staggering 74.1%. The company’s cumulative investment in Bitcoin has now surpassed $27.9 billion, with an average acquisition price of $62,428 per BTC.
MicroStrategy’s buying spree began early in November and shows no signs of slowing down. In fact, the company is reportedly planning to hold a shareholder meeting to discuss additional purchases, further solidifying its position as the largest Bitcoin-holding public company.
Despite this aggressive accumulation of Bitcoin, MicroStrategy’s stock price has taken a hit, falling by more than 7% on Monday, December 30, trading at approximately 305.69. However, it is worth noting that the stock has seen significant growth on a year-to-date basis, increasing over 346%, largely due to its substantial Bitcoin exposure.
The company’s executive chairman, Michael Saylor, remains steadfast in his bullish outlook on BTC, and has reiterated his commitment to purchasing more coins as part of the company’s 21-21 policy. He also expects the price of Bitcoin to continue its upward trajectory, predicting it will hit a new all-time high after reaching $108,000 earlier this month.
Analysts have even gone so far as to predict that the price of BTC could potentially reach as high as $250,000 by the end of 2025.
Source: www.cryptonewsz.com
