MicroStrategy Bags 5,262 Bitcoin Worth $561M, Takes Holdings to 444,262 BTC
Business intelligence firm MicroStrategy has further augmented its Bitcoin bag with a much-expected 5,262 BTC purchase on Monday.MicroStrategys chairman, Michael Saylor, confirmed the latest acquisition in a tweet on Monday. The software development firm extended its weekly acquisition streak by purchasing 5,262 BTC ($561 million).According to the announcement, MicroStrategy bought the bitcoins at an average price of $106,662 per coin, bringing its total to 442,262 BTC ($42 billion).https://twitter.com/thecryptobasic/status/1871185884290113768MicroStrategy Extends Its Weekly Bitcoin Purchase StreakMeanwhile, MicroStrategy has announced Bitcoin acquisitions for seven consecutive weeks as its appetite for the premier asset reaches insane levels. The firm resumed the streak on November 11 with a purchase of 27,200 BTC ($2.03 billion) and has accrued 192,042 BTC since then.MicroStrategys Bitcoin average cost now stands at $62,226, with the firm spending $27.64 billion to acquire its 442,262 BTC. This indicates that the pro-Bitcoin firm has a lifetime portfolio unrealized profit of $14.57 billion.Notably, the crypto community expected the Monday announcement. Enthusiasts have uncovered a trend in which Saylor mentions a desire to add new dots to MicroStrategys portfolio tracker before making a buy announcement the following day.Saylors MicroStrategy Vigorously Pursues EndgameAccording to the announcement, MicroStrategy realized the funds used to buy the Bitcoin from share sales. The firm sold an aggregate of 1,317,841 class A common stocks to bonafide investors to raise $561 million.Meanwhile, MicroStrategy disclosed that it still has more shares to auction. As of Dec. 22, it stated that $7.08 billion worth of class A shares were available for issuance and sales pursuants.The debt leverage aligns with MicroStrategys endgame of ultimately becoming a Bitcoin bank. Saylor mentioned the plot earlier, noting it would become a bank that borrows money to buy Bitcoin rather than lend its stash out.In the meantime, MicroStrategy has achieved a BTC yield of 47.4% and 73.7% on a quarter-to-date and year-to-date basis, respectively. Moreover, the MSTR stock has corrected 3.28% in the past 24 hours, mirroring Bitcoins choppy run.
Text source: The Crypto Basic
