MicroStrategy Buys a Further 2,138 BTC, Adding to Stash for 8th Consecutive Week
MicroStrategy Buys a Further 2,138 BTC, Alongside side to Stash for Eighth Consecutive Week
The buy takes MicroStrategy’s full bitcoin holdings to 446,400 BTC.
Dec 30, 2024, 1:07 p.m. UTC
Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR)
MicroStrategy, the self-described bitcoin (BTC) style firm, increased its holdings of the supreme cryptocurrency for the eighth consecutive week.
The firm, which already holds extra bitcoin than any diverse publicly traded firm, purchased but one more 2,138 BTC for $209 million within the week ended Dec. 29, bringing its full holdings to 446,400 BTC.
Once extra, Govt Chairman Michael Saylor teased the announcement on Sunday in a put up on X. The moderate buy value of bitcoin used to be $$97,837, which raised the favored buy value to $62,428.
The buy used to be funded by allotment sales under the firm’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 currently ranks 57 with an index weighting of 0.38%.
The allotment value is currently 40% under the file excessive it hit Nov. 21. It’s down 3% in pre-market trading, taking it to around $320 per allotment.
James Van Straten
Because the senior analyst at CoinDesk, specializing in Bitcoin and the macro ambiance. Beforehand, working as a be taught analyst at Saidler & Co., a Swiss hedge fund, launched to on-chain analytics. James specializes in day-to-day monitoring of ETFs, quandary, futures volumes, and flows to worship how Bitcoin interacts interior the economy. James holds extra than $1,000 price of bitcoin, MicroStrategy (MSTR) and Semler Scientific (SMLR).
