MicroStrategy Acquires 2,138 BTC, Total Holdings Reach 446,400 BTC
Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR).
MicroStrategy's Bitcoin Holdings
MicroStrategy, a bitcoin development company, increased its bitcoin (BTC) holdings for the eighth consecutive week. The firm acquired an additional 2,138 BTC for $209 million in the week ending December 29, raising its total to 446,400 BTC.
Details of the Purchase
Executive Chairman Michael Saylor announced the purchase on Sunday via a post on X. The average purchase price of the newly acquired bitcoin was $97,837, which elevated the overall average purchase price to $62,428. This acquisition was financed through share sales under the company's at-the-market (ATM) program, which still has $6.88 billion available.
Market Position
MicroStrategy joined the Nasdaq 100 last week, currently holding the 57th position with an index weighting of 0.38%. The share price is approximately 40% lower than its record high from November 21 and has decreased by 3% in pre-market trading, bringing it to around $320 per share.