MicroStrategy now has 446,400 BTC in its Bitcoin wallet, thanks to another acquisition. This is the seventh consecutive purchase in the past two months.
MicroStrategy's Bitcoin Saga Escalates
According to a press release from the company, the latest acquisition involved 2,138 BTC, which was purchased for $209 million, or an average of $97,837 per coin. As of this writing, MicroStrategy’s Bitcoin return for the quarter was 47.8% and the return for the year was 74.1%.
At an average holding price of $62,428 per BTC, the firm’s cumulative Bitcoin holdings have reached $27.9 billion. As it has done since early November, MicroStrategy continued its buying frenzy last week, adding 5,262 BTC to its holdings for $516 million.
Also, as of this writing, it remains the largest public company in terms of bitcoin holdings. The company is reportedly planning a shareholder meeting to discuss other acquisitions.
MicroStrategy shares did not rise in response to the news, even though the company has been aggressively buying bitcoin. According to Nasdaq data, MSTR shares fell about 7% and were trading at around 305.69 on Monday, December 30.
However, due to the company’s significant exposure to Bitcoin, the stock has seen a massive surge so far this year, rising more than 346%. MicroStrategy CEO Michael Saylor also reiterated his bullish outlook on Bitcoin. Although the company’s 21-21 policy has just come into effect, he still plans to buy Bitcoin.
After Bitcoin’s stunning surge to $108,000 earlier this month, Saylor predicts the price will set a new record, with BTC holding firmly above the $90,000 barrier. Analysts have forecast that Bitcoin will hit $250,000 by 2025.