MicroStrategy Continues to Buy Bitcoin

MicroStrategy continues to build its Bitcoin holdings, with co-founder Michael Saylor announcing the company’s purchase of 5,262 Bitcoin.

The company committed less than $1 billion to the deal, at an average price of $106,662 per Bitcoin, bringing its total holding to 444,262.

This deal is less valuable than previous purchases that combined exceeded $1 billion, most of which were made before the recent price correction that pushed Bitcoin below $100,000 on Thursday.

To date, the company has spent $27.7 billion on its total Bitcoin investments, which are currently worth $42.6 billion at today’s prices, despite recent volatility.

This strategy has paid off for MicroStrategy’s stock, which has surged 400% over the past year to $364 per share at press time.

The company has also achieved an additional milestone by entering the Nasdaq 100 Index.

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