yolowire.com - MicroStrategy (NASDAQ: MSTR) has bought more Bitcoin (CRYPTO: BTC), bringing the company’s holdings of the largest Cryptocurrency by market capitalization to 450,000 digital tokens.
MicroStrategy, which is a software firm turned serial Bitcoin acquirer under Executive Chairman Michael Saylor, has now purchased Bitcoin steadily for 10 consecutive weeks.
In the week ended Jan. 12, MicroStrategy purchased 2,530 Bitcoin at a cost of $243 million U.S. The average price of this most recent Bitcoin buy was $95,972 U.S.
The latest purchase brings MicroStrategy’s total holdings to 450,000 Bitcoin. The company’s average purchase price of the Bitcoin it owns is now $62,691 U.S.
Bitcoin’s current price of $91,000 U.S. means that MicroStrategy’s holdings are presently worth $40.95 billion U.S.
MicroStrategy is the largest corporate holder of Bitcoin in the world.
The stock of MicroStrategy is down 5% in premarket trading on Jan. 13 as crypto prices slide lower with investors shifting capital out of risk assets.
Bitcoin declined 7% over the weekend and has lost 11% of its value in the past week. The price of BTC rose a total of 120% in 2024 but is now down 3% to start the new year.
MicroStrategy has become so associated with Bitcoin that its share price tends to move in tandem with the largest cryptocurrency.