MicroStrategy has ramped up its Bitcoin reserves, bringing its total to an impressive 444,262 BTC following a recent acquisition.
Recent Acquisition Details
Known for its strong focus on Bitcoin investments, MicroStrategy (MSTR) has just completed its seventh consecutive week of robust purchasing activity.
In the week concluding December 22, the company acquired 5,262 BTC, a transaction that set them back roughly $561 million and significantly nudged their total Bitcoin stash upwards.
This latest purchase was made at an average cost of $106,622 per Bitcoin.
The intent to buy more Bitcoin was hinted at earlier by Executive Chairman Michael Saylor through a post shared on social media platform X. With this latest acquisition, MicroStrategy’s Bitcoin portfolio is now valued at around $42.2 billion.
Meanwhile, the average purchase price across the company’s holdings has now adjusted to $62,257 per Bitcoin.
Funding and Market Impact
The capital used for this latest investment came from MicroStrategy’s ongoing at-the-market (ATM) offering program, which still holds about $7.08 billion available for future stock sales.
This announcement arrives just as MicroStrategy celebrates its inclusion in the Nasdaq 100 index.
In pre-market trading, shares of the company have stabilized around a price of $364.2.
Disclaimer
The analyst who prepared this report owns shares in MicroStrategy (MSTR).
Source: Coindesk
