MicroStrategy Buys More BTC as Stock Becomes Member of Nasdaq 100 Index
The purchase takes MicroStrategy's total holdings to 444,262 bitcoin.
What to know:
- MicroStrategy bought more bitcoin for a seventh straight week
- The purchase of 5,262 BTC at an average price of $106,662 each takes the company's total holding to 444,262 BTC.
- The purchase was announced on the day MicroStrategy joined the Nasdaq 100 index.
Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR)
MicroStrategy (MSTR), the software developer that has made acquiring bitcoin (BTC) a core value, added to its holding for a seventh week in a row.
The company bought 5,262 BTC for a total of $561 million in the week ended Dec. 22 to take its total holdings to 444,262 BTC it said.
The purchase, at an average price of $106,622 per bitcoin, was teased by Executive Chairman Michael Saylor in a Sunday post on X. It brings the value of MicroStrategy's holdings to $42.2 billion at current market prices and raises the average cost to $62,257 per bitcoin.
The latest acquisitions were funded by share sales under the company's at-the-market program (ATM). MicroStrategy has $7.08 billion left on the ATM program.
The announcement comes the same day that MicroStrategy starts trading as a member of the Nasdaq 100 equity index. The share price is little changed in pre-market trading, over $364.2.
