MicroStrategy has announced another large bitcoin purchase worth over $240 million amid an ongoing decline in cryptocurrency prices.
Deal Details
MicroStrategy reported acquiring 2,530 bitcoins for approximately $243 million at an average price of $95,972 per BTC. As of January 1, 2025, the company holds 450,000 BTC purchased for $28.2 billion at an average price of $62,691 per bitcoin.
Bitcoin Price Dynamics
The latest purchase by MicroStrategy occurred as bitcoin's price dropped to a new yearly low below $91,000. Earlier in the morning, the cryptocurrency was trading near $96,000 but later declined by several thousand dollars.
Impact on MicroStrategy Shares
MicroStrategy's shares have also seen a decrease of 20% since mid-December following the company's inclusion in the NASDAQ 100.
MicroStrategy's latest bitcoin acquisition demonstrates its confidence in the future of cryptocurrency despite current market conditions. The company's investment strategy continues to draw investor attention.