MicroStrategy, the software maker turned Bitcoin development company, increased its total stake to 446,400 BTC.
Executive Chairman Michael Saylor has ditched MicroStrategy’s Bitcoin (BTC) buy as usual via a December 29 post on X. The company’s values disclosure files. confirmed bought 2,138 BTC for $209 million last week.
This marks MicroStrategy’s eighth consecutive weekly Bitcoin purchase, bringing its average purchase price to $62,428 per BTC. Since the beginning of its Bitcoin strategy in 2020, the company has spent more than $27.9 billion on his BTC holdings.
In the last two months, MicroStrategy has financed its purchases of Bitcoin through a program in the market, raising capital by issuing shares or securities. The company has $6.88 billion remaining from its ATM program, signaling that more weekly BTC purchases are likely on the horizon.
Bitcoin has propelled dotcom-era software developer Saylor into the Nasdaq 100. The company quickly jumped 30% of existing index members, scoring a weighting of 0.38%.
MSTR’s stock price peaked at $473.83 on Nov. 21, but traded down 40% from its post-Christmas high. BTC’s rally has also slowed as of writing, trading around $92,900, down 13.9% from a $108,135 ATH recorded on December 17.
Despite the drawdown, MSTR was the best performing stock of 2024 arose 402%, surpassing Bitcoin’s 119% increase.
