MicroStrategy continues its aggressive accumulation of Bitcoin. This week, the company purchased 2,138 BTC, bringing its total cryptocurrency holdings to 446,400 BTC.
Details of the Latest Purchase
MicroStrategy's executive chairman Michael Saylor announced that the company acquired Bitcoin worth $209 million, adding 2,138 BTC to their holdings. This marks the eighth consecutive weekly purchase since 2020, totaling $27.9 billion.
Funding through Stock Issuance
Over the past two months, MicroStrategy has funded Bitcoin acquisitions through an at-the-market program, with $6.88 billion remaining. This indicates a likelihood of continued BTC purchases in the future.
Impact on Stock and Bitcoin Value
The surge in Bitcoin's popularity propelled MicroStrategy onto the Nasdaq stock exchange. However, the company's share price dropped by 40% from its peak in November. Despite this, MSTR was the best-performing stock of 2024, with a 402% increase, surpassing Bitcoin's 119% growth.
MicroStrategy continues its strategy of expanding Bitcoin holdings, funding acquisitions through stock issuance. This policy positively impacted the company's stock price, despite the slowing growth of Bitcoin's value in December.
