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MicroStrategy Shares Jump as Firm Buys More Bitcoin at USD 49K
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The US-based business software firm MicroStrategy announced that they have spent another USD 94m on bitcoin (BTC) to hold on its balance sheet, bringing the company’s total holding to BTC 124,391 (USD 5.9bn).
As usual with MicroStrategy’s bitcoin purchases, the move was shared by CEO Michael Saylor on Twitter.
“MicroStrategy has purchased an additional 1,914 bitcoins for ~$94.2 million in cash at an average price of ~$49,229 per bitcoin,” Saylor said.
Following the announcement, shares of MicroStrategy edged higher, and is currently up by 1.04% for the day. The gains come after the share has largely traded lower for the better part of November and December, losing nearly 37% since a peak on November 9.
The announcement today comes less than a
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