MicroStrategy has purchased extra Bitcoin for the fifth consecutive week, in a interval that spans again to the start of November. The software program firm introduced that it bought 21,550 BTC for $2.1 billion, bringing its whole holdings to 423,650 BTC.
MicroStrategy Acquires 21,550 BTC
In a press release, MicroStrategy introduced that it acquired 21,550 for $2.1 billion at a mean value of $98,783 per BTC and has achieved a BTC yield of 43.2% quarter-to-date (QTD) and 68.7% year-to-date (YTD).
As a consequence, the corporate’s whole Bitcoin holdings now stand at 423,650 BTC, which they acquired for $25.6 billion at a mean value of $60,324 per bitcoin. The software program firm made this current buy between December 2 and eight, marking the fifth consecutive week it purchased the flagship crypto. With its newest buy, the corporate now holds over 2% of Bitcoin’s whole provide.
The firm’s co-founder, Michael Saylor, recently called on the US to promote its gold to purchase Bitcoin. Other firms are additionally trying to emulate MicroStrategy’s Bitcoin technique, with producer Worksport, one of the crucial current, asserting that it might purchase Bitcoin for its company treasury.
Meanwhile, the National Center for Public Policy Research (NCPPR) has submitted a shareholder proposal to Amazon, calling on the corporate to diversify a minimum of 5% of its money reserves into Bitcoin. At the identical time, Microsoft might make historical past as the corporate’s shareholders will vote on a Bitcoin adoption proposal tomorrow.
MSTR Stock Remains Down
The MSTR inventory is down in pre-trading and has did not react positively to MicroStrategy’s Bitcoin buy announcement. Nasdaq data reveals that the inventory is buying and selling at round $391, down from its closing value of $395 on Friday final week.
However, that would change as soon as the market opens. The MSTR inventory has benefited massively from the corporate’s’s Bitcoin publicity, with the inventory boasting a YTD achieve of simply over 500%, outperforming even BTC within the course of.
Meanwhile, the Bitcoin price reclaimed $99,000 on the again of MicroStrategy’s announcement. The flagship crypto is once more consolidating round this vary having surged to as excessive as $104,000 final week.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto information author and editor who has lined matters that lower throughout DeFi, NFTs, good contracts, and blockchain interoperability, amongst others. Boluwatife has a knack for simplifying probably the most technical ideas and making it straightforward for crypto newbies to know. Away from writing, He is an avid basketball lover and a part-time degen.
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