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What you need to know
- MicroStrategy reported a Monday purchase of approximately $209,000,000 in bitcoin.
- Now, for the eighth consecutive week, Bitcoin has been announced as a new purchase by this company.
- This latest round of buying has pushed MicroStrategy's total bitcoin holdings to 446,400.
- MicroStrategy stock prices fell by 6% early Monday afternoon as bitcoins prices fell.
MicroStrategy, Inc. (MSTR), has purchased more bitcoin (BTCUSD), making this the eight week consecutive period that MicroStrategy bought more digital currency.
The software company-turned-bitcoin buyer said in a filing with the Securities and Exchange Commission (SEC) Monday that it had spent around $209 million in cash to buy 2,138 bitcoin between Dec. 23 and Dec. 29 at an average price of $97,837. Now, the company holds 446 400 bitcoin.
MicroStrategy shares, which were added to the Nasdaq 100 index last week, fell more than 6 percent in the most recent trades as bitcoin prices dropped. Recently, the cryptocurrency traded at $92,500. This is down from its highs of $99,000 last week and $108,000 two weeks earlier.
Purchases Part of MicroStrategy's '21/21' Strategy
MicroStrategy announced previously that it would sell shares at the market (ATM) to fund bitcoin purchases. “21/21” strategy. The company has a strategy to raise $42 billion by selling shares, fixed income securities and new bitcoins.
MicroStrategy also reported a year-to-date "bitcoin yield" of 74.1% in Monday's filing. This metric is used to measure the increase in bitcoins MicroStrategy has per share.
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