MicroStrategy's Saylor Announces $209 Million Bitcoin Purchase

12/30/2024 20:24

This is the eight consecutive Monday when MicroStrategy announces a Bitcoin purchase

Cover image via U.Today

Business intelligence firm MicroStrategy has acquired an additional $209 million, according to a Monday announcement.

This marks the company's eighth consecutive Bitcoin purchase. However, it is notably smaller compared to the previous ones.

The company's total Bitcoin holdings are fast approaching the 450,000 mark, currently standing at 446,400.

Last Monday, the business intelligence firm announced a $516 million Bitcoin purchase. The average price was more than $106,000, meaning that the company purchased that batch of coins near the local market. That said, Saylor has repeatedly rejected the idea of trying to time the market.

Yesterday, MicroStrategy co-founder Michael Saylor hinted that he would expand the company's impressive streak by posting his Bitcoin purchasing tracker on social media.

This time, the company's average purchasing price was $97,837.

Bitcoin is currently changing hands at $93,117, down 5.5% over the past 24 hours.

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About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].

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MicroStrategy's Saylor Announces $209 Million Bitcoin Purchase

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