MicroStrategy Isn’t Stopping, Buys 15,350 BTC For About $1.5B

Publicly traded business intelligence company MicroStrategy has added 15,350 BTC (valued at about $1.5 billion) to its Bitcoin stash. This latest acquisition brings the firm’s total BTC holdings to 439,000 BTC, acquired for approximately $27.1 billion at an average BTC price of $61,725.

MicroStrategy Goes Shopping Again

MicroStrategy disclosed that it acquired its latest BTC stash when the apex crypto asset sold for an average of $100,386. The firm’s co-founder and executive chairman, Michael Saylor, has always been pro-Bitcoin, stating in a Bloomberg interview earlier this year that his company will “be buying the top forever.” The latest acquisition attests to Saylor’s commitment to always buy BTC at its top price.

Notably, this would be the first time the business intelligence firm would buy BTC when it traded above the $100,000 threshold. MicroStrategy’s previous BTC purchase, announced on December 9th, saw 21,550 BTC added to the company’s BTC portfolio.

With its current Bitcoin holdings of 439,000 BTC, MicroStrategy boasts over 2.09% of Bitcoin’s total supply of 21 million coins.

Interestingly, MicroStrategy’s continuous BTC-buying practice has affected its stock, MSTR. Last month, MSTR reached an all-time high of $543.

Earlier today, the company’s shares jumped by over 6% amid optimism over its inclusion in the Nasdaq 100 Index, which tracks the performance of the top 100 companies on the Nasdaq stock market. MicroStrategy’s valuation as of November 29th saw its positioning in the 40th position among the 100 firms on the Nasdaq 100 Index.

More Firms Follow the Same Path

MicroStrategy’s bold decision to adopt BTC as a reserve asset has inspired other publicly traded firms to do the same. One such firm is Semler Scientific, a health tech company that recently increased its BTC stash by 211 BTC (approximately $21.5 million). Its total BTC holdings are 2,084 BTC.

Riot Platforms, a Bitcoin mining company, also boosted its BTC stockpile by 667 BTC ($594 million) today.

The acquisition news has enabled BTC to cruise to a new ATH worth more than $107,000 at the time of writing.