MicroStrategy has announced the acquisition of 1,070 Bitcoin
(BTC) for approximately $101 million, averaging $94,004 per BTC. This brings
the company’s total holdings to 447,470 BTC, purchased at an aggregate cost of
around $27.97 billion, averaging $62,503 per BTC.
The acquisition comes as Bitcoin (BTCUSD) surpasses the
$100,000 mark on intraday charts, signalling potential optimism among buyers.
MicroStrategy Continues Bitcoin Acquisition Streak
On December 29, MicroStrategy
acquired an additional 2,138 BTC for $209 million, increasing its total to
446,400 BTC. This purchase marks the eighth consecutive week of acquisitions,
funded through the company’s at-the-market program. MicroStrategy retains
$6.88 billion under this program.
MicroStrategy has acquired 1,070 BTC for ~$101 million at ~$94,004 per bitcoin and has achieved BTC Yield of 48.0% in Q4 2024 and 74.3% in FY 2024. As of 01/05/2025, we hodl 447,470 $BTC acquired for ~$27.97 billion at ~$62,503 per bitcoin. $MSTR https://t.co/CkLrLSkB5M
— Michael Saylor⚡️ (@saylor) January 6, 2025
Previously, the
company purchased 5,262 BTC for $561 million, at an average price of
$106,662 per BTC, raising its holdings to 444,262 BTC with an average
acquisition cost of $62,257 per BTC, as reported by Finance Magnates.
MicroStrategy joined the Nasdaq 100 index on December 23,
2024, aligning it with top firms and offering indirect Bitcoin exposure through
the Invesco QQQ Trust ETF. This move underscores the company’s substantial role
in the cryptocurrency market.
Bitcoin Climbs Back to 100K After Support at 91K
BTCUSD, after breaching the 100K mark earlier, underwent a
prolonged bearish correction. Upon finding support around 91K, the
cryptocurrency has started moving upwards.
Bitcoin’s return above $100K appears to be driven by spot demand rather than leverage, as open interest and funding rates remained muted. @sndr_krisztian reportshttps://t.co/yLU27HDLb7
— CoinDesk (@CoinDesk) January 6, 2025
The H1 chart shows an uptrend, with the price bouncing
multiple times at the trend line, continuing its bullish path. The price broke
above the 100K level, making a bullish breakout on the intraday charts. This
could be significant as it’s the first time the cryptocurrency has surged back
towards 100K after the holiday period.
This article was written by Tareq Sikder at www.financemagnates.com.
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