For the eighth consecutive week, software company MicroStrategy (MSTR), now a well-established player in the cryptocurrency market, has added more Bitcoin to its investment portfolio. The company made this revelation in a filing document with the Securities and Exchange Commission (SEC) on Monday, stating that it had used approximately $209 million in cash to acquire 2,138 bitcoin at an average price of $97,837 between Dec. 23 and Dec. 29. This acquisition now places MicroStrategy's Bitcoin holdings at 446,400.
Despite MicroStrategy's shares experiencing a more than 6% dip after their recent addition to the Nasdaq 100, the company has continued its Bitcoin acquisition. During trading, Bitcoin was valued at approximately $92,500, a significant drop from the previous week's high of around $99,000 and an even more considerable dip from its peak of $108,000 two weeks ago.
MicroStrategy funded these recent Bitcoin purchases through at-the-market (ATM) share sales based on its previously announced "21/21" strategy. This flagship plan aims to amass $42 billion in capital, raised by selling new shares and fixed-income securities, in order to buy more Bitcoin. The company also stated in Monday's filing that it had achieved a year-to-date "bitcoin yield" of 74.1% - a measure of the growth in the number of Bitcoins per share that MicroStrategy holds.