- Michael Saylor’s MicroStrategy now owns almost 190,000 bitcoins, topping $8 billion in value.
- The software company added 14,620 new tokens, worth $616 million, to its coffers in the past month.
- MicroStrategy has seen its stock has soar 350% year to date as bitcoin has rallied.
The latest episode of MicroStrategy’s bitcoin buying spree has pushed the company’s bitcoin holdings over $8 billion.
From November 30 to December 26, the enterprise software company shelled out $616 million to buy 14,620 new tokens, according to an SEC filing, putting its stockpile at 189,150 bitcoins.
The average price of the latest bitcoin purchase was $42,110, according to the SEC filing. The average price of the total stash of the currency is $31,168.
Last month’s purchases follow, the 16,130 bitcoin that MicroStrategy bought in November, which marked its largest buy since February 2021 when it splurged on $1 billion worth of the currency.
MicroStrategy, run by bitcoin bull Michael Saylor, has become known for its massive crypto hoard. And as bitcoin has soared 158% this year, MicroStrategy’s stock has crushed tech giants like Nvidia, rocketing by an eye-watering 352%.
Shares jumped 9% Wednesday, putting MicroStrategy’s market cap at $9 billion. Meanwhile, bitcoin rallied 2% to $43,060.
The company began buying bitcoin three years ago, as Saylor called bitcoin “digital gold” and has said he wanted to acquire as much bitcoin as he possibly could.
And as bitcoin has rebounded from a major crash in 2022, several crypto stocks like Coinbase and Marathon Digital that weathered the storm are embarking on triple-digit rallies this year as well.
Wall Street is also bullish on bitcoin, with Standard Chartered saying last month that it’s still set to more than double again to $100,000 by late next year. And in October, analysts at Bernstein predicted that bitcoin could hit $150,000 by mid-2025.
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