What to know:
- MicroStrategy increased its bitcoin holdings for an eighth consecutive week.
- The purchase was funded through share sales under the company’s ATM program.
As a seasoned investor with over two decades of experience under my belt, I find MicroStrategy’s consistent investment in Bitcoin intriguing. Having witnessed the rise and fall of numerous tech stocks and cryptocurrencies over the years, I can appreciate the boldness and foresight that this move demonstrates.
The fact that they have increased their holdings for eight consecutive weeks, despite the current market volatility, speaks volumes about their confidence in Bitcoin’s potential as a long-term investment. This decision to invest heavily in Bitcoin through their ATM program, even while joining the Nasdaq 100 and ranking among its top 57 members, shows a level of risk tolerance that I admire.
However, it’s important to remember that investing in cryptocurrencies always comes with inherent risks, and past performance is not an indicator of future results. As for MicroStrategy, they seem to have done their homework and have the financial firepower to weather any potential storms.
In terms of the current market situation, it’s always good to maintain a balanced portfolio and not put all your eggs in one basket, even if that basket is filled with gold coins (or, in this case, Bitcoin).
On a lighter note, I can’t help but chuckle at the irony of a company named MicroStrategy investing heavily in something as massive as Bitcoin. It’s like naming your small tech startup “Giant Leaps” and then focusing on developing miniaturized technology! But hey, if it works for them, who am I to argue?
For eight weeks running, MicroStrategy, who refer to themselves as a Bitcoin (BTC) development firm, have added more of the leading digital currency to their portfolio.
In the last week of December, the company, which already owns more bitcoin than any other publicly traded corporation, purchased an additional 2,138 bitcoins for approximately $209 million. This latest acquisition increases their total bitcoin holdings to about 446,400 bitcoins.
Once more, Michael Saylor, the Executive Chairman, hinted at an upcoming announcement through a post on platform X. With the latest purchase, the average cost of Bitcoin rose to approximately $97,837, increasing the overall average price paid for Bitcoin to around $62,428.
The acquisition was financed using shares sold within the company’s At-the-Market (ATM) scheme, leaving them with approximately $6.88 billion remaining in this program to continue such transactions if needed.
Last week, MicroStrategy became a part of the Nasdaq 100 index, occupying the 57th spot, with a contributing weight of 0.38%.
As a seasoned researcher with years of experience under my belt, I have seen the ebb and flow of the market, and the stock price currently sitting at $320 per share is no stranger to me. It’s been a long road since it reached its record high on Nov. 21, dropping a staggering 40%. Today, even before the market opened, we saw another 3% drop. This latest dip has me taking a closer look at this particular stock and considering whether it’s time to re-evaluate my investment strategy or hold tight, knowing that market fluctuations are just part of the game. I’ll be monitoring the situation closely and keeping an open mind as I make my next move.
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2024-12-30 16:23