MicroStrategy buy more 5,262 Bitcoin Worth $561 Million amid the Nasdaq-100 Inclusion
MicroStrategy, the business intelligence company, has added 5,262 Bitcoin ( $BTC ) worth $561 million between December 16 and 22. The purchase was made at an average price of $106,662 per coin, marking the seventh consecutive week of Bitcoin acquisitions ahead of the company’s inclusion in the Nasdaq-100 index.
Despite being a consistent buyer, this purchase represents MicroStrategy’s smallest acquisition in recent weeks. The decline in volume is attributed to Bitcoin’s price surge, which hit $108,000 during the buying period.
MicroStrategy CEO Michael Saylor reaffirmed the company’s long-term Bitcoin strategy, revealing plans to raise $42 billion over the next three years to buy more Bitcoin. The funds will be sourced through market share sales and convertible debt offerings.
This latest move highlights MicroStrategy’s unwavering confidence in Bitcoin as a strategic reserve asset and reinforces its position as one of the largest corporate holders of the cryptocurrency.
