MicroStrategy, officially rebranded as Strategy (MSTR), has continued its commitment to Bitcoin by significantly increasing its holdings to an impressive 478,740 BTC. This latest acquisition was made following a brief pause in Bitcoin purchases, leading to a substantial investment of $742.4 million in the world’s leading cryptocurrency.
In the week ending February 9, the Tysons Corner, Virginia-based company acquired an additional 7,633 BTC, as disclosed by Executive Chairman Michael Saylor on X. The average purchase price for this latest acquisition was marked at $97,255 per Bitcoin, which has subsequently elevated the overall average purchase price to $65,033.
It is noteworthy that there were no Bitcoin purchases made during the week ending February 2. This was likely due to the company adhering to a blackout period as it prepared for its earnings report. On February 6, MicroStrategy reported a fourth-quarter net loss of $3.03 per share, a stark contrast to the income of $0.50 per share reported the previous year.
Saylor has regularly teased announcements regarding Bitcoin purchases, hinting at an optimistic outlook for the cryptocurrency. His recent post included the intriguing phrase, “Death to the blue lines. Long live the green dots,” which suggests a strong bullish sentiment moving forward.
As enthusiasm for Bitcoin continues among institutional players like MicroStrategy, the implications for the market remain profound. The ongoing strategy of accumulating Bitcoin might signal a growing trend of acceptance and reliance on cryptocurrency as an asset class in the financial landscape.
