MicroStrategy purchased 10,645 Bitcoins for $980.3 million between Dec. 8 and 14, averaging $92,124 per BTC, according to a Monday announcement. This acquisition was financed through proceeds from at-the-market (ATM) equity offerings.
This marks the company's biggest Bitcoin purchase since July.
This addition brings total holdings to 671,268 BTC
The latest purchase is a tad bigger than the 10,624 BTC (about $963 million worth) that Strategy purchased between Dec. 1 and 7. Strategy has now made two impressive announcements in a row.
Despite the mammoth Bitcoin buy conducted by Strategy, the price of Bitcoin remains below the psychologically important $90,000 level.
Could Strategy sell Bitcoin?
As reported by U.Today, CEO Fong Lee did not rule out selling some of Strategy’s Bitcoin holdings if there is a prolonged crypto winter.
Lee noted that Bitcoin remains a core part of Strategy’s long-term plan.
However, Lee has also noted that Bitcoin remains a core part of Strategy’s long-term plan.
For now, there seems to be zero chance of Strategy liquidating its holdings in the near future.
Strategy's recent win
Meanwhile, according to a recent report by Reuters, Strategy has also managed to retain its place in the Nasdaq 100, dodging a big bullet.
However, concerns persist about the sustainability of crypto treasury companies.
MSCI has separately raised concerns about digital-asset treasury firms. It will decide in January whether to exclude Strategy and similar companies from its benchmarks.
U.Today Editorial Team
Dan Burgin
