MicroStrategy continues its aggressive Bitcoin acquisition strategy, adding another 15,400 BTC to its portfolio, bringing its total holdings to 402,100 BTC.
Latest Bitcoin Acquisition
At the start of the month, MicroStrategy made yet another substantial Bitcoin purchase, adding 15,400 BTC worth approximately $1.5 billion. The company now holds an astonishing 402,100 BTC, representing nearly 2% of all Bitcoins that will ever be in existence.
MicroStrategy's Buying Strategy
This marks the fourth weekly Bitcoin purchase in a row for MicroStrategy. Previously, on November 25, the company announced a record-shattering $5.4 billion Bitcoin purchase. It also made purchases on November 18 worth $4.6 billion and on November 11 worth $2.03 billion. The average purchasing price of Bitcoin for MicroStrategy is nearing the $60,000 mark, currently standing at $58,263.
The Market and Other Companies
In the wake of the recent announcement, MicroStrategy's shares have risen by 0.27% in premarket trading. Meanwhile, Bitcoin is currently trading at $95,556, having declined by 1.7% over the past 24 hours. Other companies have also adopted MicroStrategy's debt-for-Bitcoin model, including Marathon Digital, which announced a $700 million private offering of convertible notes to buy more Bitcoin. MicroStrategy co-founder Michael Saylor remarked that 'the only thing better than Bitcoin is more Bitcoin.'
MicroStrategy continues its policy of active investment in Bitcoin, impacting its cryptocurrency market share and influencing the behavior of other companies in the industry.
