MicroStrategy, a self-described bitcoin development company, increased its holdings for the eighth consecutive week. The purchase brings its total bitcoin holdings to 446,400 BTC, valued at $209 million.
The company’s ATM program funded the share sales that made the latest purchase possible. MicroStrategy now holds more bitcoin than any other publicly traded company.
The average price per bitcoin was $97,837 in the latest week, increasing the overall average price to $62,428. This is a significant increase from previous purchases.
In related news, MicroStrategy joined the Nasdaq 100 last week and currently ranks 57 with an index weighting of 0.38%. The share price has dropped 40% since its record high on November 21.
Analyst James Van Straten notes that MicroStrategy’s purchases demonstrate the company’s commitment to bitcoin. As a senior analyst at CoinDesk, Van Straten specializes in Bitcoin and macro environment analysis.
Source: https://www.coindesk.com/markets/2024/12/30/micro-strategy-buys-a-further-2-138-btc-adding-to-stash-for-8th-consecutive-week