MicroStrategy, the software maker turned Bitcoin development company, increased its total holding to 446,400 BTC.
Executive chairman Michael Saylor teased MicroStrategyโs Bitcoin (BTC) purchase as usual via a Dec. 29 post on X. The firmโs securities disclosure filings confirmed it bought 2,138 BTC for $209 million last week.
This marks MicroStrategyโs eighth consecutive weekly Bitcoin purchase, bringing its average acquisition price to $62,428 per BTC. Since initiating its Bitcoin strategy in 2020, the company has spent over $27.9 billion on its BTC holdings.
Over the past two months, MicroStrategy has funded its Bitcoin acquisitions through an at-the-market program, , raising capital by issuing shares or securities. The company has $6.88 billion remaining from its ATM program, signaling that more weekly BTC purchases are likely on the horizon.
Bitcoin propelled Saylorโs dotcom era software developer into the Nasdaq 100. The company quickly leapfrogged 30% of existing index members, scoring a 0.38% weighting.
MSTRโs share price peaked at $473.83 on Nov. 21 but traded at a 40% markdown from its record high after Christmas. BTCโs rally also slowed as of writing, trading around $92,900, down 13.9% from a $108,135 ATH recorded on Dec. 17.
Despite the drawdown, MSTR was 2024โs best-performing stock as it surged 402%, outperforming Bitcoinโs 119% increase.
