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MicroStrategy has announced another Bitcoin purchase, its seventh in as many weeks. This recent purchase brings the company’s total holdings to 444,262 BTC, and it comes amid its Nasdaq-100 listing today. MicroStrategy Acquires 5,262 BTC In a press release, MicroStrategy announced that it acquired 5,262 BTC for $516 million at an average price of $106,662 per bitcoin and has achieved a BTC yield of 47.4% quarter-to-date (QTD) and 73.7% year-to-date (YTD). The company now holds 444,262 BTC, which it acquired for $27.7 billion at an average price of $62,257 per bitcoin. This purchase marks the company’s seventh in as many weeks. Last week, MicroStrategy announced that it acquired 15,350 BTC for $1.5 billion. The software company continues to increase its Bitcoin holdings despite the flagship crypto’s tepid price action. Meanwhile, this recent purchase comes amid the company’s Nasdaq-100 listing, which is set to take place today. This achievement has been partly thanks to the company’s Bitcoin exposure, which has worked out greatly so far. The company currently boasts an unrealized profit of around $15 billion on its Bitcoin investment. Meanwhile, the MSTR stock has been one of the best-performing assets. The MSTR stock is up over 470% YTD, outperforming Bitcoin and other major stocks, including the ‘Magnificent 7’. It is worth mentioning that MSTR has outperformed all these assets since 2020, when Michael Saylor and his company adopted the ‘Bitcoin Strategy.’ Reaction From The Market The MSTR stock failed to react positively to news of MicroStrategy’s recent purchase. Nasdaq data shows that the stock is down almost 2% and currently trading at around $359. Meanwhile, the Bitcoin price remains tepid as it continues to range between $94,000 and $96,000. This has led to concerns that the bull run may be over. However, crypto analysts have suggested that the flagship crypto…

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Filed under: News - @ December 23, 2024 5:24 pm