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.
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