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MicroStrategy Continues Bitcoin Buying Spree with $209M BTC Added
In a latest move, MicroStrategy has bolstered its Bitcoin portfolio by acquiring an additional 2,138 BTC for approximately $209 million. This decision marks the eighth consecutive purchase over the past two months, further solidifying the company’s position as the largest publicly traded holder of Bitcoin.
According to official statements, the newly acquired Bitcoins were purchased at an average cost of $97,837 per coin. The recent addition has brought MicroStrategy’s cumulative investment in Bitcoin to a staggering $27.9 billion, with an average acquisition price of $62,428 per BTC.
The company’s aggressive accumulation of Bitcoin is quite impressive, considering its total holdings now stand at 446,400 BTC. This move also reinforces Michael Saylor’s commitment to the cryptocurrency market and his willingness to maintain the company’s 21-21 policy.
Despite these recent developments, MicroStrategy’s stock price has taken a hit, falling by over 7% on Monday, December 30. However, it is essential to note that the stock had seen significant growth of over 346% on a year-to-date basis, partly due to the company’s substantial Bitcoin exposure.
Michael Saylor remains resolute in his bullish outlook on BTC and has reiterated his stance on continuing the acquisition of more Bitcoins as their value continues to appreciate.
Source: www.cryptonewsz.com
