Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR).
In a bold move indicative of its ongoing commitment to Bitcoin, MicroStrategy (MSTR), under the leadership of Executive Chairman Michael Saylor, has added to its bitcoin holdings for the 12th consecutive week. This latest acquisition is a testament to the firm’s unwavering belief in the long-term value of the leading cryptocurrency.
For the week ending January 26, MicroStrategy purchased a significant 10,107 BTC, bringing its total Bitcoin holdings to an impressive 471,107 BTC. According to a recent post by Saylor on X, the company made this purchase at an average price of $105,596 per bitcoin. As a result, MicroStrategy’s overall average purchase price has increased to $64,511 per BTC.
Saylor has been teasing announcements regarding these acquisitions on social media, displaying a consistent pattern of optimism. In a recent tweet, he encouraged followers with the phrase: “Don’t stop thinking about tomorrow.” This message resonates with the company’s forward-looking strategy and commitment to building its cryptocurrency assets.
Additionally, on January 21, the shareholders of MicroStrategy approved a significant increase in the authorized number of Class A common shares, raising it from 330 million to an astonishing 10.3 billion shares. This move potentially positions the company for future capital raises, which could support further acquisitions or expansion plans.
As MicroStrategy continues to bolster its Bitcoin holdings, all eyes will be on the company to see how this strategy unfolds in the fast-paced world of cryptocurrency investment.
