MicroStrategy Incorporated (NASDAQ: MSTR) has once again demonstrated its unwavering commitment to Bitcoin, announcing the purchase of 5,262 additional BTC for approximately $561 million.
The acquisition, which took place just before Christmas, is the company’s third Bitcoin purchase this month alone and comes amid speculation that buying activity may slow in January due to MicroStrategy’s recent addition to the NASDAQ-100 index.
Sustained BTC accumulation
Michael Saylor, the company’s CEO and co-founder, revealed in a post on social media that the 5,262 BTC were purchased at an average price of about $106,662 per coin. This latest move brings MicroStrategy’s total Bitcoin holdings to 444,262 BTC, acquired at a total price of $27.7 billion. The company’s average total purchase price is now approximately $62,257 per BTC.
Source: X
Although Bitcoin traded near historic highs throughout December, the Virginia-based business software provider has had little hesitation in expanding its position. Last week, MicroStrategy announced a separate $1.5 billion purchase at an average cost of $100,386 per BTC. In total, the company has now made three major Bitcoin acquisitions in December.
Highlighting the high returns of this investment strategy, Saylor explained that MicroStrategy has achieved a quarter-to-date (QTD) return of 47.4% on its Bitcoin holdings and a year-to-date (YTD) return of 73.7%. Since then, however, Bitcoin’s price has seen a decline of around 11-12%, and MicroStrategy’s stock has also reflected this volatility, falling over 15% from its recent peak.
