Disclaimer: The analyst who wrote this article owns shares of MicroStrategy (MSTR)
MicroStrategy (MSTR), the software developer that has made buying bitcoin (BTC) a staple, increased its stake for the seventh consecutive week.
The company purchased 5,262 BTC for a total of $561 million in the week ending December 22 to bring its total holdings to 444,262 BTC, it said.
The purchase, at an average price of $106,622 per bitcoin, was teased by CEO Michael Saylor in a Sunday post on X. It brings the value of MicroStrategy’s holdings to $42.2 billion at current market prices and raises the average cost at $62,257 per bitcoin.
The latest acquisitions were financed through the sale of shares under the company’s ATM program. MicroStrategy has $7.08 billion left in the ATM program.
The announcement comes the same day MicroStrategy begins trading as a member of the Nasdaq 100 stock index. The share price is little changed in premarket trading, up $364.2.
