MicroStrategy, the software maker turned Bitcoin development company, increased its total holdings to 446,400 BTC.
Chief Executive Officer Michael Saylor announced MicroStrategy’s purchase of Bitcoin (BTC) as usual in a post on December 29th
This marks MicroStrategy’s eighth consecutive weekly Bitcoin purchase, bringing the average purchase price to $62,428 per BTC. Since launching its Bitcoin strategy in 2020, the company has spent over $27.9 billion on its BTC holdings.
Over the past two months, MicroStrategy has funded its Bitcoin acquisitions through a market program that raises capital through the issuance of stocks or securities. The company still has $6.88 billion left from its ATM program, indicating that more weekly BTC purchases are likely on the horizon.
Bitcoin brought Saylor’s dot-com-era software developer into the Nasdaq 100. The company quickly overtook 30% of existing index members to reach a weighting of 0.38%.
MSTR’s share price peaked at $473.83 on November 21, but was trading at a 40% discount to its post-Christmas record high. BTC’s rally also slowed at the time of writing, trading at around $92,900, down 13.9% from its ATH of $108,135 on December 17th.
Despite the decline, MSTR 2024 was…
