The software company-turned-bitcoin buyer said in a filing with the Securities and Exchange Commission (SEC) Monday that it had spent around $209 million in cash to buy 2,138 bitcoin between Dec. 23 and Dec. 29 at an average price of $97,837.
MicroStrategy (NASDAQ:MSTR) bought more bitcoin (BTCUSD) in the past week, continuing a eight-week buying spree of the digital currency.
The software company-turned-bitcoin buyer said in a filing with the Securities and Exchange Commission (SEC) Monday that it had spent around $209 million in cash to buy 2,138 bitcoin between Dec. 23 and Dec. 29 at an average price of $97,837.
The bitcoin purchases over the past week were funded through at-the-market (ATM) share sales as part of MicroStrategy’s previously-announced "21/21" strategy.
The 21/21 plan is the company's strategy of raising $42 billion of capital by selling new shares and fixed-income securities to buy more bitcoin. MicroStrategy also reported a year-to-date "bitcoin yield" of 74.1% in Monday's filing. That metric measures the growth in how many bitcoins per share MicroStrategy owns.
Shares of MicroStrategy, which joined the Nasdaq 100 last week, were down more than 6% in recent trading as the price of bitcoin fell.
The cryptocurrency was trading at around $92,500 recently, down from highs last week of around $99,000 and an all-time high of $108,000 set two weeks ago.
The price of bitcoin has fallen around 10% from those highs as traders continue to assess the impact of the new Omicron variant of COVID-19 on the global economy and markets.
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