- With an average price of $97,837 per bitcoin, MicroStrategy purchased 2,138 BTC for $209M.
- For $516 million, MicroStrategy bought 5,262 Bitcoins last week.
The recent decline in Bitcoin’s price has intensified investor anxiety on the future of the flagship cryptocurrency. Plus, the leading altcoins tend to mimic Bitcoin’s price movements, so it added gasoline to the fire of conjecture about the future of the whole crypto market.
Nonetheless, Matrixport has pointed to BTC’s historical tendencies and other variables to suggest a possible breakthrough for the New Year, even if the price has lately dropped. With this latest acquisition, MicroStrategy’s total Bitcoin holdings reach 446,400. Eight Bitcoin acquisitions in as many weeks have been made by the same corporation.
Banking on Bitcoin
With an average price of $97,837 per bitcoin, MicroStrategy purchased 2,138 BTC for $209 million, according to a press release. As for the business itself, it has a Bitcoin yield of 47.8% for the quarter and 74.1% for the year thus far.
Moreover, with an average price of $62,428 per bitcoin, the software business purchased 446,400 BTC for $27.9 billion. For $516 million, MicroStrategy bought 5,262 Bitcoins last week. The acquisition of billions of BTC at the beginning of November started this Bitcoin buying streak.
There are no indications that the software company will soon relinquish its position as the public company with the largest Bitcoin holdings. On the contrary, it is said to be planning to convene a shareholders meeting to decide on purchasing more Bitcoin.
In the meantime, this latest Bitcoin acquisition had little effect on MicroStrategy’s stock price. According to Nasdaq statistics, the stock price of MSTR is now trading at about $315, a decrease of more than 4%.
Nevertheless, the software company’s involvement with Bitcoin has contributed to the stock’s continued increase since the beginning of the year. According to MarketWatch, the stock is up more than 400% year-to-date.
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