Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR)
MicroStrategy, the self-described bitcoin (BTC) growth firm, elevated its holdings of the most important cryptocurrency for the eighth consecutive week.
The corporate, which already holds extra bitcoin than another publicly traded firm, purchased one other 2,138 BTC for $209 million within the week ended Dec. 29, bringing its complete holdings to 446,400 BTC.
As soon as once more, Govt Chairman Michael Saylor teased the announcement on Sunday in a put up on X. The typical buy worth of bitcoin was $$97,837, which raised the common buy worth to $62,428.
The acquisition was funded by way of share gross sales underneath the corporate’s at-the-market (ATM) program, for which they’ve $6.88 billion left on the ATM program.
MicroStrategy joined the Nasdaq 100 final week and at present ranks 57 with an index weighting of 0.38%.
The share worth is at present 40% under the report excessive it hit Nov. 21. It’s down 3% in pre-market buying and selling, taking it to round $320 per share.
