MicroStrategy has continued its aggressive Bitcoin acquisition streak, announcing the purchase of an additional 2,138 BTC for $209 million.
New Bitcoin Purchase
The company acquired the cryptocurrency at an average price of $97,837 per Bitcoin, marking its eighth consecutive week of purchases. Its total holdings now stand at 446,400 BTC.
MicroStrategy's Strategy to Increase Holdings
In October, MicroStrategy unveiled its plan to raise $42 billion over the next three years to fund further Bitcoin acquisitions, aiming for a long-term BTC Yield target of 6% to 10% annually.
Financial Results and Plans
The company reported notable performance metrics, achieving a Bitcoin yield of 47.8% quarter-to-date and 74.1% year-to-date. Michael Saylor recently announced the successful completion of a $2.97 billion convertible senior notes offering.
MicroStrategy shows confidence in its Bitcoin investment strategies by increasing its reserves and aiming to achieve long-term financial goals.
