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MicroStrategy has bought Bitcoin for the eighth consecutive week, pushing its holdings to 446,400 BTC, worth about $41.5 billion at current market prices.
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Business intelligence firm and Bitcoin investor MicroStrategy has acquired 2,138 Bitcoin for $209 million, boosting its total holdings of the cryptocurrency.
On Dec. 30, MicroStrategy announced that it added 2,138 BTC to its holdings between Dec. 23 and Dec. 29. The company said it used $209 million in cash to purchase the coins at an average price of about $97,837 per BTC.
According to a filing, MicroStrategy funded the acquisition by selling 592,987 shares during the same week.
MicroStrategy’s Bitcoin yield at 74% year-to-date
MicroStrategy reported that its Bitcoin yield — a performance metric for its cryptocurrency investments — reached 74.1% year-to-date as of Dec. 30. From Oct. 1 to Dec. 29, the metric stood at 47.8%.
Source: Michael Saylor
MicroStrategy co-founder and executive chairman Michael Saylor teased the purchase on Sunday, Dec. 29, saying there were “disconcerting” lines on the Saylor Tracker, a data tracker dedicated to monitoring MicroStrategy’s Bitcoin purchases.
Saylor previously said the company would continue buying Bitcoin at any price. The MicroStrategy executive said the company will still buy the asset even if the price hits $1 million.
The latest Bitcoin purchase marks the eighth consecutive week the business intelligence firm has purchased Bitcoin. Since Oct. 31, MicroStrategy has bought BTC weekly, adding 194,180 BTC to its holdings.
However, the amount of BTC the company bought had decreased significantly compared to its purchases in November. During the month, MicroStrategy bought over 100,000 BTC.
Related: Bitcoin ETFs, MicroStrategy, whales spur 3X jump in private BTC txs: Analyst
MicroStrategy wants to issue more shares to buy more Bitcoin
In a Dec. 23 filing with the United States Securities and Exchange Commission, the company said it wants permission to increase the number of authorized shares for its Class A common stock and preferred stock. This would give them more flexibility to issue additional shares whenever they need.
The company seeks to raise the authorized Class A common stock from 330 million shares to 10.33 billion shares. In addition, it also wants to increase the authorized preferred stock from five million to more than one billion shares.
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This article first appeared at Cointelegraph.com News
