Key Points:
- MicroStrategy acquired 2,530 BTC for $243 million between January 6 and 12, continuing its streak of weekly Bitcoin acquisitions.
- MicroStrategy Bitcoin investment continues to advance despite the recent crypto market correction.
MicroStrategy, the world’s largest corporate holder of Bitcoin, continued its buying spree by adding 2,530 BTC for approximately $243 million between January 6 and January 12.
Read more: MicroStrategy Bitcoin Investment Surpasses $22 Billion Mark In 2024
MicroStrategy Extends Bitcoin Buying Spree with $243 Million Purchase
It’s the 10th consecutive week that MicroStrategy has bought Bitcoin. The latest purchase was at an average price of $95,972 per Bitcoin, according to a filing with the Securities and Exchange Commission.
The MicroStrategy Bitcoin investment comes hot on the heels of the sale of 710,425 MicroStrategy shares, which raised an equivalent amount of money.
At the time of writing, January 12, the company had approximately $ 6.53 billion of remaining shares available for sale as part of a broader $21 billion equity offering and a $21 billion fixed-income securities raise designed to finance more Bitcoin buys.
Currently, MicroStrategy holds about 450,000 BTC. These are valued at roughly $40.8 billion at today’s market prices. The company spent roughly $28 billion acquiring these at an average price of $62,691 per Bitcoin. It also reported a Bitcoin yield of 0.32% between January 1st and January 12th, a demonstration of steady growth in Bitcoin holdings relative to outstanding shares.
MicroStrategy Bitcoin Investment Still Fueled Amid Market Volatility
Despite the ongoing correction of Bitcoin, which fell below $91,000 earlier in the week, MicroStrategy has not changed its long-term strategy.
The MicroStrategy Bitcoin investments come against an economic world of uncertainties and probable market disruptions associated with U.S. economic policies under former President Donald Trump.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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