Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR).

Bitcoin Development Company MicroStrategy (MSTR) is now the owner of nearly 2% of all the bitcoin (BTC) that will ever be created after adding to its holdings of the token.

The firm disclosed the purchase of 15,400 bitcoin over the week ended Dec. 1 for $15.4 billion, or an average price of $95,976 each on Monday. That brings its holdings to 402,100 tokens worth $38.2 billion at the current price of $95,000. The company’s overall average purchase price is $58,263.

This most recent buy was funded with share sales under the company’s existing at-the-market program, according to the disclosure.

Executive Chairman Michael Saylor once again on Sunday teased the Monday announcement.

MicroStrategy’s 402,100 tokens amount to more than 1.9% of the 21 million bitcoin that can ever be created.

Other developments

Underway is the process for rebalancing the Nasdaq 100 and one discussion point is whether MicroStrategy will be included in the refigured index. An announcement on inclusion is due to take place on Dec.

Go to Source to See Full Article
Author: James Van Straten