MicroStrategy Buys More BTC as Stock Becomes Member of Nasdaq 100 Index
12/23/2024 20:28
The purchase takes MicroStrategy's total holdings to 444,262 bitcoin.
MicroStrategy Buys a Further 5,262 BTC as Stock Joins Nasdaq 100
The purchase takes MicroStrategy's total holdings to 444,262 bitcoin.
Updated Dec 23, 2024, 1:14 p.m. UTCPublished Dec 23, 2024, 1:12 p.m. UTC
Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR)
MicroStrategy (MSTR), the software developer that has made acquiring bitcoin (BTC) a core value, added to its holding for a seventh week in a row.
The company bought 5,262 BTC for a total of $561 million in the week ended Dec. 22 to take its total holdings to 444,262 BTC it said.
The purchase, at an average price of $106,622 per bitcoin, was teased by Executive Chairman 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 to $62,257 per bitcoin.
The latest acquisitions were funded by share sales under the company's at-the-market program (ATM). MicroStrategy has $7.08 billion left on the ATM program.
The announcement comes the same day that MicroStrategy starts trading as a member of the Nasdaq 100 equity index. The share price is little changed in pre-market trading, over $364.2.
James Van Straten
As the senior analyst at CoinDesk, specializing in Bitcoin and the macro environment. Previously, working as a research analyst at Saidler & Co., a Swiss hedge fund, introduced to on-chain analytics. James specializes in daily monitoring of ETFs, spot, futures volumes, and flows to understand how Bitcoin interacts within the financial system. James holds more than $1,000 worth of bitcoin, MicroStrategy (MSTR) and Semler Scientific (SMLR).
