The company, the largest corporate holder of the cryptocurrency, continued a string of weekly purchases that began in early November.
MicroStrategy (NASDAQ:MSTR) acquired 5,262 bitcoin (BTC-USD) for a total of $561M for the week ended Dec. 22, the company disclosed on Monday, marking its seventh consecutive weekly bitcoin purchase.
MicroStrategy Inc., which is set to enter the Nasdaq 100 Index on Monday, announced it had purchased an additional $561 million of Bitcoin at an average price near last week’s record high.
MicroStrategy bought 5,262 BTC at an average price of roughly $106,662, the highest cost the firm has ever paid per BTC.
Of the 439,000 bitcoin that MicroStrategy owns, more than one-third have been purchased since Trump’s election victory last month.
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MicroStrategy, the largest corporate holder of Bitcoin, has added another 5,262 BTC to its reserves, spending $561 million.
Regulation of cryptocurrency will relax — sending bitcoin's price up. Investors could profit as MicroStrategy sells stock to buy more appreciating bitcoin.
Bitcoin broke another price record, rising above $107,000 Monday, after crossing $106,000 in late trading Sunday. Meanwhile, MicroStrategy, which calls itself a bitcoin treasury company, announced yet another $1.
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MicroStrategy is going deeper on its belief in bitcoin.