MicroStrategy CEO Michael Saylor announced today that his company has purchased an additional 5,262 Bitcoin. The purchase cost $561 million and continues its ongoing BTC acquisition plan.
However, since the company was added to the NASDAQ-100, rumors have been circulating that the company may pause these purchases in January.
Saylor buys even more Bitcoin
With the latest acquisition, this is MicroStrategy’s third Bitcoin purchase in December alone. Last week, the company purchased $1.5 billion worth of BTC at an average price of $100,386. Under Saylor’s leadership, the company has become one of the largest holders of Bitcoin in the world and shows no signs of stopping.
MicroStrategy acquired 5,262 BTC for ~$561 million at ~$106,662 per bitcoin and achieved a BTC yield of 47.4% for the quarter and 73.7% for the year. As of 12/22/2024, we own 444,262 BTC acquired for ~$27.7 billion at ~$62,257 per bitcoin, Saylor said.
Since the crypto bull run in November, Saylor has clearly signaled his intention to buy large amounts of Bitcoin. So far, the asset’s price has been soaring, generating high yields. He also recently hinted at a large BTC purchase to mark MicroStrategy’s inclusion in the NASDAQ-100.
Bitcoin (BTC) Price Performance. Source: BeInCrypto
MicroStrategy and Bitcoin: Between High Strategies and Volatility Risks
However, rumors are circulating that MicroStrategy may implement a possible pause on these BTC purchases starting in January. Since the company has been added to the NASDAQ-100 and its quarterly earnings reports are expected early next year, Saylor may implement a self-imposed blackout period that would prevent any Bitcoin purchases.
The company’s recent actions have generated high returns, but they could represent a double-edged sword for itself and the broader market. There are considerable concerns that Saylor has contributed materially to “decentralization” in the Bitcoin economy, and his company has also outpaced Bitcoin’s intense growth rates.
Thus, BTC volatility could have a disproportionate impact on MSTR stock’s market performance. Over the past week, Bitcoin has fallen by nearly 12%, and MSTR’s stock price has also fallen by over 15%.
MSTR Stock Price Weekly Chart. Source: Google Finance
For now, however, this BTC buying pattern appears stable. Regardless of whether Saylor implements the rumored pause in January or not, further prominent buying in the last week of December is still plausible.
The article MicroStrategy buys another $561 million in Bitcoin before Christmas appeared first on BeInCrypto Brasil.
