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MicroStrategy Added 2,530 Bitcoin for $243M, Bringing Holdings to 450K BTC
During a presentation in Orlando on Monday, Saylor told executives to invest in bitcoin instead of bonds, which he labeled as "toxic."
What to know:
- MicroStrategy increased its bitcoin holdings for the tenth consecutive week, buying 2,530 tokens for $243M.
- The company's stack now sits at 450,000 bitcoin purchased at an average price of $62,691 each.
- Shares are lower in premarket trading alongside a large decline in the price of bitcoin.
Disclaimer: The analyst who co-wrote this piece owns shares of MicroStrategy (MSTR) and Semler Scientific (SMLR).
Michael Saylor's MicroStrategy (MSTR) has increased its bitcoin (BTC) holdings for the tenth consecutive week.
STORY CONTINUES BELOW
In the week ending Jan. 12, MicroStrategy purchased 2,530 BTC for $243 million, bringing its total holdings to 450,000 BTC. The average price of the latest bitcoin buy was $95,972. The overall average purchase price of the company's holdings is now $62,691.
Executive Chairman Michael Saylor once again teased the announcement on X on Sunday before presenting in front of executives at the ICR Conference in Orlando on Monday. During his presentation, Saylor recommended companies to invest in bitcoin rather than bonds which he called "toxic," Bloomberg reported.
He pointed out that bitcoin has increased significantly since 2020, when MicroStrategy adopted bitcoin as its primary treasury reserve asset. Bonds, on the other hand, have declined over that period.
Shares of MicroStrategy were lower by nearly 5% in premarket action alongside a similarly sized dip in the price of bitcoin, which is now hanging on just above $90,000.
In addition, Semler Scientific (SMLR) has acquired an additional 237 BTC for $23.3 million using proceeds from an at-the-market (ATM) offering and operating cash flow for an an average price of $98,267. SMLR now holds 2,321 BTC for an aggregate amount of $191.9 million average purchase price of $82,867. Shares are down almost 7% in premarket trading.
James Van Straten
James Van Straten is a Senior Analyst at CoinDesk, specializing in Bitcoin and its interplay with the macroeconomic environment. Previously, James worked as a Research Analyst at Saidler & Co., a Swiss hedge fund, where he developed expertise in on-chain analytics. His work focuses on monitoring flows to analyze Bitcoin's role within the broader financial system.
In addition to his professional endeavors, James serves as an advisor to Coinsilium, a UK publicly traded company, where he provides guidance on their Bitcoin treasury strategy. He also holds investments in Bitcoin, MicroStrategy (MSTR), and Semler Scientific (SMLR).
Helene Braun
Helene is a New York-based markets reporter at CoinDesk, covering the latest news from Wall Street, the rise of the spot bitcoin exchange-traded funds and updates on crypto markets. She is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
