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MicroStrategy Buys Bitcoin for 10th Consecutive Week; Average Cost at $95,972

Tue, 14 Jan 2025, 02:55 am UTC

MicroStrategy Buys Bitcoin for 10th Consecutive Week; Average Cost at $95,972

MicroStrategy, the largest corporate holder of Bitcoin, has continued its aggressive Bitcoin accumulation, purchasing the cryptocurrency for the 10th straight week.

According to CoinDesk on January 13, the company acquired 2,530 BTC last week at a cost of $243 million, with an average purchase price of $95,972 per Bitcoin.

This brings MicroStrategy’s total holdings to 450,000 BTC, with an average acquisition cost of $62,691 per Bitcoin. The total purchase value stands at $28.2 billion, significantly below Bitcoin's current market value of $41.04 billion—over 45.5% lower.

Since adopting Bitcoin as a treasury strategy in 2020, MicroStrategy has utilized stock issuance and bond sales to fund its large-scale Bitcoin acquisitions. Despite market fluctuations, the company has consistently purchased Bitcoin for 10 consecutive weeks.

At the ICR Conference on January 13, Executive Chairman Michael Saylor encouraged companies to invest in Bitcoin over "toxic bonds." He noted, "Since MicroStrategy adopted Bitcoin as its primary treasury reserve asset in 2020, Bitcoin's price has risen significantly, while bond values have declined over the same period."

MicroStrategy’s strategy has inspired other companies to adopt Bitcoin as a treasury asset. Tesla, fintech firm Block, video streaming platform Rumble, medical technology company Semler Scientific, and marketing tech solutions provider Banzai are among the corporate Bitcoin holders.

Recently, Semler Scientific purchased 237 BTC at an average price of $98,267, spending $23.3 million. The company now holds 2,321 BTC, with a total acquisition cost of $191.9 million and an average price of $82,867 per Bitcoin.

Despite growing macroeconomic concerns and Bitcoin's weaker performance, the stock price impact of these Bitcoin purchases remains muted.

MicroStrategy's stock fell 5% in premarket trading but closed 0.15% higher at $328.40, down about 30% from its November 20 peak of $474. Similarly, Semler Scientific's stock dropped 7% in premarket trading but ended the day up 2.61%.

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Great article. Requesting a follow-up. Excellent analysis.

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Great article. Requesting a follow-up. Excellent analysis.
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