MicroStrategy Expands Bitcoin Holdings
Disclaimer: The analyst who authored this article holds shares in MicroStrategy (MSTR).
MicroStrategy (MSTR) has significantly increased its investment in Bitcoin, raising its total holdings to an impressive 478,740 BTC. This expansion follows a brief pause and includes a substantial purchase of $742.4 million worth of the leading cryptocurrency.
During the week ending February 9, the Tysons Corner, Virginia-based company, formerly known as MicroStrategy, acquired 7,633 BTC. Executive Chairman Michael Saylor took to X to share this update, revealing that the average purchase price for this latest acquisition was $97,255 per Bitcoin. This strategic move has consequently elevated the overall average purchase price to $65,033.
Interestingly, the company refrained from making any Bitcoin purchases during the week ending February 2, likely due to a self-imposed blackout period coinciding with its earnings report. On February 6, MicroStrategy disclosed a fourth-quarter net loss of $3.03 per share, a stark contrast to the income of $0.50 per share reported in the same period a year prior.
Saylor has kept enthusiasts on edge with hints about the company’s latest Bitcoin acquisition, teasing his followers once again on Sunday with a cryptic message: “Death to the blue lines. Long live the green dots.”
