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MicroStrategy Boosts Bitcoin Holdings with $243M Purchase

MicroStrategy Boosts Bitcoin Holdings with $243M Purchase

MicroStrategy has expanded its Bitcoin reserves by acquiring 2,530 BTC for $243 million, averaging $95,972 per coin, between January 6 and 12.

This latest move brings the company’s total holdings to 450,000 BTC, valued at over $40 billion, purchased at an average price of $62,691 per Bitcoin.

To fund its purchases, the company sold 710,425 shares during the same period, matching the $243 million spent on Bitcoin. MicroStrategy has an ongoing plan to raise $42 billion through equity and fixed-income securities, including a new $2 billion preferred stock offering aimed at attracting institutional investors like banks and pension funds.


READ MORE: MoonPay Acquires Helio to Enhance Crypto Payment Services


This acquisition marks ten consecutive weeks of Bitcoin purchases, including 1,070 BTC bought the previous week for $101 million and $209 million invested the week before. Over the past ten weeks, MicroStrategy has spent more than $18 billion on Bitcoin, further cementing its position as one of the largest institutional holders of the cryptocurrency.

Despite these investments, MicroStrategy’s stock has seen mixed performance, with a 1.1% decline to $327.91 last Friday, although it remains up 447% year-over-year. Analysts highlight the firm’s premium valuation relative to its Bitcoin holdings, sparking debates about the sustainability of its strategy. Nonetheless, MicroStrategy now holds 2.1% of Bitcoin’s total supply, reinforcing its commitment to the asset amid ongoing market volatility.

Author
Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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