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Disclaimer
The analyst who wrote this piece owns shares of MicroStrategy (MSTR).
Bitcoin Stack Continues to Grow
MicroStrategy (MSTR), led by Executive Chairman Michael Saylor, has again added to its massive bitcoin (BTC) stack. In the week ending January 19, the company purchased 11,000 BTC for $1.1 billion, taking its total holdings to 461,000 BTC. This latest bitcoin average purchase price was $101,191, increasing MicroStrategy’s overall average purchase price to $63,610.
Michael Saylor’s Twitter Announcement
Once again, executive chairman Michael Saylor teased the announcement on X on Sunday with the caption, "Things will be different tomorrow." Since the tweet, Saylor has posted multiple photos of himself with Eric Trump, crypto czar David Sacks, and Robert Kennedy Jr.
Market Reaction
MSTR shares are down modestly in premarket action, with bitcoin trading at $104,500, lower by a hair from late Friday afternoon. U.S. stocks were closed on Monday due to the MLK holiday.
Breakdown of the Purchase
The company’s latest purchase brings its total bitcoin holdings to 461,000 BTC. This significant increase in its bitcoin stack demonstrates MicroStrategy’s commitment to the cryptocurrency and its potential for long-term growth. With an overall average purchase price of $63,610, the company’s holdings are now valued at approximately $29.4 billion.
Conclusion
In conclusion, MicroStrategy’s latest purchase of 11,000 BTC further solidifies its position as one of the largest holders of bitcoin. The company’s commitment to the cryptocurrency and its potential for long-term growth is evident in its increasing investment in the asset. As the market continues to evolve, it will be interesting to see how MicroStrategy’s strategy plays out and what impact it may have on the broader market.
FAQs
Q: What was the price of the latest bitcoin purchase?
A: The price of the latest bitcoin purchase was $101,191.
Q: How much did MicroStrategy pay for the latest bitcoin purchase?
A: MicroStrategy paid $1.1 billion for the latest bitcoin purchase.
Q: What is the total value of MicroStrategy’s bitcoin holdings?
A: The total value of MicroStrategy’s bitcoin holdings is approximately $29.4 billion.
Q: What is the overall average purchase price of MicroStrategy’s bitcoin holdings?
A: The overall average purchase price of MicroStrategy’s bitcoin holdings is $63,610.
Q: Why did MicroStrategy make the latest bitcoin purchase?
A: MicroStrategy made the latest bitcoin purchase to further solidify its position as one of the largest holders of bitcoin and to demonstrate its commitment to the cryptocurrency.
