MicroStrategy continues its aggressive Bitcoin acquisition strategy, purchasing an additional 2,138 BTC for $209 million last week. This marks the company's eighth consecutive week of Bitcoin purchases, bringing its total holdings to 446,400 BTC.
The software developer has maintained a steady buying pattern through its at-the-market (ATM) financing approach, issuing shares and securities to fund these acquisitions. With $6.88 billion remaining in its ATM program, the company appears positioned for continued Bitcoin purchases.
Since initiating its Bitcoin strategy in 2020, MicroStrategy has invested over $27.9 billion in cryptocurrency holdings, with an average acquisition price of $62,428 per BTC. Executive Chairman Michael Saylor announced the latest purchase via social media platform X on December 29.
The company's Bitcoin-focused strategy has yielded remarkable results, propelling MicroStrategy into the Nasdaq 100 with a 0.38% weighting. Despite a recent 40% decline from its November peak of $473.83, MSTR emerged as 2024's top-performing stock with a 402% gain, substantially outpacing Bitcoin's 119% increase.
Bitcoin itself has experienced a pullback, trading at approximately $92,900, representing a 13.9% decrease from its December 17 all-time high of $108,135.
MicroStrategy's persistent accumulation strategy and strong market performance demonstrate the company's unwavering commitment to its Bitcoin-centric approach, even amid market volatility.