MicroStrategy adds Bitcoin for the eighth week in a row

MicroStrategy, the software maker turned Bitcoin developer, has increased its total holdings to 446,400 BTC.

CEO Michael Saylor teased MicroStrategy’s Bitcoin (Bitcoin) Buy as usual via a December 29 post on X. The company’s securities disclosure filings certain It bought 2,138 Bitcoin for $209 million last week.

This marks MicroStrategy’s eighth consecutive weekly purchase of Bitcoin, bringing the average holding price to $62,428 per Bitcoin. Since the company began its Bitcoin strategy in 2020, it has done so spent Over $27.9 billion in Bitcoin holdings.

Over the past two months, MicroStrategy has been financing its Bitcoin acquisitions through a market program, raising capital by issuing shares or securities. The company has $6.88 billion remaining from its ATM program, suggesting there are likely more weekly Bitcoin purchases on the horizon.

Bitcoin propelled dot-com-era software developer Saylor into the Nasdaq 100. The company quickly jumped 30% of the index’s existing members, registering a weight of 0.38%.

MSTR’s stock price peaked at $473.83 on November 21, but traded at a 40% discount from its post-Christmas record high. Bitcoin’s rise has also slowed as of writing, trading at around $92,900, down 13.9% from the $108,135 ATH recorded on December 17.

Despite the drawdown, MSTR was the best-performing stock of 2024 rose 402%, beating Bitcoin’s 119% increase.