MicroStrategy Continues Bitcoin Accumulation
Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR).
MicroStrategy (MSTR), under the leadership of Executive Chairman Michael Saylor, has made headlines once again by continuing its aggressive strategy of accumulating bitcoin (BTC). In the latest update, the company purchased an impressive 10,107 BTC during the week that concluded on January 26. This latest acquisition brings MicroStrategy’s total bitcoin holdings to a staggering 471,107 BTC, as disclosed by Saylor in a recent post on X.
The recent purchase occurred at an average price of $105,596 per bitcoin, which has resulted in an increase in MicroStrategy’s overall average acquisition cost, now sitting at $64,511 per BTC. This strategic move illustrates the company’s unwavering commitment to building its cryptocurrency portfolio, despite market fluctuations.
Saylor hinted at this significant announcement over the weekend, echoing a familiar sentiment in his social media posts: “Don’t stop thinking about tomorrow.” This phrase resonates with his forward-looking approach to investment and the future of bitcoin.
Moreover, on January 21, MicroStrategy’s shareholders took a pivotal step by approving an increase in the authorized number of Class A common shares, raising the limit from 330 million to an astonishing 10.3 billion shares. This decision signals the company’s readiness to expand its financial strategies and capitalize on future opportunities.
