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MicroStrategy Buys $561 Million in Bitcoin, Marking 7th Week of Purchases Amid Nasdaq 100 Entry

Dec 23, 2024, 01:02 PM

MicroStrategy Inc. has continued its aggressive Bitcoin acquisition strategy, purchasing an additional 5,262 Bitcoin for approximately $561 million at an average price of $106,662 per Bitcoin. This marks the seventh consecutive week of Bitcoin purchases for the company, bringing its total holdings to 444,262 Bitcoin, valued at around $42 billion. The latest acquisition coincides with MicroStrategy's entry into the Nasdaq 100 Index, a significant milestone for the company. Despite the recent dip in Bitcoin's price below $100,000, MicroStrategy's shares experienced a decline of 6% on the day of the announcement, reflecting the volatility associated with its leveraged Bitcoin strategy.