Disclaimer: The analyst who wrote this article owns shares of MicroStrategy (MSTR)
MicroStrategy, the self-proclaimed bitcoin (BTC) development company, increased its holdings of the largest cryptocurrency for the eighth consecutive week.
The company, which already holds more bitcoin than any other publicly traded company, bought another 2,138 BTC for $209 million in the week ending December 29, bringing its total holdings to 446,400 BTC.
Once again, CEO Michael Saylor mocked the announcement on Sunday in a post on X. The average purchase price for bitcoin was $97,837, bringing the average purchase price to $62,428.
The purchase was financed through the sale of shares under the company’s at-the-market (ATM) program, for which they have $6.88 billion remaining in the ATM program.
MicroStrategy joined the Nasdaq 100 last week and is currently ranked 57th with an index weight of 0.38%.
The share price is currently 40% below the all-time high it reached on November 21. It is down 3% in pre-market trading, bringing it to around $320 per share.
