Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR)
MicroStrategy, the self-described bitcoin (BTC) improvement firm, elevated its holdings of the biggest cryptocurrency for the eighth consecutive week.
The corporate, which already holds extra bitcoin than another publicly traded firm, purchased one other 2,138 BTC for $209 million within the week ended Dec. 29, bringing its complete holdings to 446,400 BTC.
As soon as once more, Government Chairman Michael Saylor teased the announcement on Sunday in a put up on X. The common buy worth of bitcoin was $97,837, which raised the typical buy worth to $62,428.
The acquisition was funded by means of share gross sales underneath the corporate’s at-the-market (ATM) program, for which they’ve $6.88 billion left on the ATM program.
MicroStrategy joined the Nasdaq 100 final week and presently ranks 57 with an index weighting of 0.38%.
The share worth is presently 40% beneath the document excessive it hit Nov. 21. It’s down 3% in pre-market buying and selling, taking it to round $320 per share.
