Bitcoin treasury company MicroStrategy on Monday announced another BTC buy, bringing its total stash of the leading cryptocurrency to over $46 billion.
According to a Monday announcement, the company bought 15,350 Bitcoin between December 9 and December 15 and now holds 439,000 BTC in total, valued $46.6 billion at the current price. MicroStrategy bought its latest Bitcoin at an average price of $100,386 per coin, it said, bringing the week’s spend to over $1.5 billion.
The company has accelerated its Bitcoin buys this year as demand for its stock (NASDAQ: MSTR) has surged.
On Friday, Nasdaq announced that MicroStrategy will join the Nasdaq 100—an index of the top 100 non-financial companies on the Nasdaq Composite index. The move will take effect before markets open next Monday, December 23.
The listing is bullish for the crypto industry, as it signals more mainstream acceptance of the space.
MicroStrategy, formerly a quiet tech company, used to focus exclusively on selling data-analyzing software. Now, it largely buys Bitcoin and securitizes it: Investors buy shares of the company to get exposure to the biggest cryptocurrency by market cap.
It is the largest corporate holder of the cryptocurrency.
MicroStrategy stock is today up nearly 3%, priced at $419.60. Over the past year, it has shot up over 600%. And since the company first bought Bitcoin in 2020, the company’s shares have risen 3,300%.
The firm’s co-founder and executive chairman, Michael Saylor, claims that the asset is the best way to preserve wealth and get returns for shareholders, as opposed to buying gold, real estate, or tech stocks.
The price of Bitcoin now stands at $106,387 per coin—currently the all-time high price for the asset, pushing slightly higher than the record set on Sunday.
The biggest and oldest digital asset has soared following the November 5 election of U.S. President-elect Donald Trump, who has promised to slash regulation, help the digital asset industry, and even create a strategic Bitcoin stockpile.
Edited by Andrew Hayward
