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Key Takeaways
- MicroStrategy introduced a purchase order of round $209 million in bitcoin Monday.
- The corporate has now introduced new bitcoin purchases for eight consecutive weeks.
- This newest spherical of shopping for has pushed MicroStrategy’s complete bitcoin holdings to 446,400.
- MicroStrategy shares have been down 6% in early-afternoon buying and selling Monday as bitcoin costs retreated.
MicroStrategy (MSTR) purchased extra bitcoin (BTCUSD) prior to now week, making it eight weeks in a row that the corporate has acquired extra of the digital forex.
The software program company-turned-bitcoin purchaser stated in a submitting with the Securities and Trade Fee (SEC) Monday that it had spent round $209 million in money to purchase 2,138 bitcoin between Dec. 23 and Dec. 29 at a median value of $97,837. The corporate now holds 446,400 bitcoin.
Shares of MicroStrategy, which joined the Nasdaq 100 final week, have been down greater than 6% in current buying and selling as the worth of bitcoin fell. The cryptocurrency was buying and selling at round $92,500 lately, down from highs final week of round $99,000 and an all-time excessive of $108,000 set two weeks in the past.
Purchases A part of MicroStrategy’s ’21/21′ Technique
The bitcoin purchases over the previous week have been funded via at-the-market (ATM) share gross sales as a part of MicroStrategy’s previously-announced “21/21” technique. The 21/21 plan is the corporate’s technique of elevating $42 billion of capital by promoting new shares and fixed-income securities to purchase extra bitcoin.
MicroStrategy additionally reported a year-to-date “bitcoin yield” of 74.1% in Monday’s submitting. That metric measures the expansion in what number of bitcoins per share MicroStrategy owns.