- According to Michael Saylor, chairman of MicroStrategy Executives, the business has acquired an additional 5,262 bitcoins for about $561 million, with an average price of $106,662 per bitcoin.
In a post on X on Monday, Michael Saylor, the executive chairman and co-founder of Bitcoin stockpiler MicroStrategy, announced that the company had purchased an extra 5,262 shares for almost $561 million. For the new Bitcoin, the corporation paid an average price of $106,662 per bitcoin.
With 444,262 bitcoin now valued at over $40 billion, MicroStrategy has spent almost $27.7 billion on the cryptocurrency.
As part of its treasury reserve strategy, MicroStrategy announced plans in October to raise $42 billion in capital to enable additional bitcoin acquisitions. As of December 15, the business said that it still had about $7.65 billion worth of shares up for sale as part of its planned $21 billion fixed-income securities offering and $21 billion equity offering.
MicroStrategy has said that it has purchased more bitcoin for the sixth consecutive week. The corporation purchased 15,350 Bitcoin last week. MicroStrategy’s announcement on Monday comes as the company joins the Nasdaq 100 index. Large exchange-traded funds are more likely to purchase the stock now that it is included.
MicroStrategy’s premium to NAV valuation and its approach of financing bitcoin purchases using debt and stock have raised doubts among certain investors. The software division of the company did not turn a profit in the most recent quarter.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.