MicroStrategy has expanded its Bitcoin holdings once again, purchasing 5,262 BTC worth $561 million at an average price of $106,662 per coin. This latest acquisition brings the company's total Bitcoin reserves to 444,262 BTC, acquired for $27.7 billion at an average cost of $62,257 per coin.
The purchase marks MicroStrategy's seventh Bitcoin investment in seven weeks, coinciding with the company's inclusion in the prestigious Nasdaq-100 index. The firm's Bitcoin-focused strategy has yielded substantial returns, with current unrealized profits reaching approximately $15 billion.
Since adopting its Bitcoin strategy in 2020, MicroStrategy's stock (MSTR) has surged 470% year-to-date, outperforming major market indices and assets. However, recent market movements have seen MSTR experience a modest 1.9% decline to $359, while Bitcoin prices have fluctuated between $94,000 and $96,000.
Market analysts maintain a positive outlook on Bitcoin's trajectory, suggesting the cryptocurrency remains in bull market territory as long as it maintains support above $85,000. However, CryptoQuant CEO Ki Young Ju warns of potential risks if Bitcoin falls below $16,500.
MicroStrategy's aggressive Bitcoin acquisition strategy represents a broader initiative to integrate cryptocurrency into its business model. The company maintains its bullish stance on Bitcoin regardless of market conditions, continuing its systematic purchases despite the cryptocurrency's known volatility.
This latest move reinforces MicroStrategy's position as one of the largest corporate Bitcoin holders, demonstrating unwavering confidence in the digital currency's long-term prospects.