MicroStrategy, a Virginia-based technology company, has increased its bitcoin holdings to 478,740 BTC after purchasing $742.4 million worth of the cryptocurrency.
The company’s Executive Chairman Michael Saylor announced the purchase on Sunday, revealing that it bought an additional 7,633 BTC at an average price of $97,255 per coin. This increase brings the overall average purchase price down to $65,033.
Saylor had previously teased the announcement in a post on X, where he wrote “Death to the blue lines. Long live the green dots.” MicroStrategy had paused its bitcoin purchases last week due to the company’s earnings period, which ended on February 2.
The bitcoin purchases were made using proceeds from the sale of shares and the perpetual preferred equity offering of Strike (STRK). The company’s fourth-quarter net loss was reported as $3.03 per share, compared to a profit of $0.50 per share in the same quarter last year.
As an analyst at CoinDesk, James Van Straten notes that MicroStrategy’s bitcoin strategy is closely tied to macroeconomic factors and its on-chain analytics expertise.
Source: https://www.coindesk.com/markets/2025/02/10/strategy-resumes-bitcoin-purchases-takes-holdings-to-478-740-btc