MicroStrategy (MSTR) has announced a $1.1 billion Bitcoin purchase. This is the company's 11th consecutive weekly Bitcoin purchase.
The company's total Bitcoin holdings have now reached 461,000 BTC (roughly $48 billion at current prices).
This is the company's second purchase with an average price above the $100,000 mark. This time, it was $101,191.
The company's average buying price has now climbed to $63,610. Meanwhile, Bitcoin is currently changing hands at $104,236 after paring some of its recent losses.
Alex DovbnyaThe company's shares are down 0.57% in premarket trading.
CryptoQuant CEO Ki Young Ju has stated that the MicroStrategy (MSTR) stock is currently undervalued relative to its Bitcoin holdings.
Key shareholder vote
Later today, the company's shareholders will vote to decide whether to approve an audacious plan to increase the number of authorized shares to more than 10 billion.
This initiative is expected to pass with relative ease given that cofounder Michael Saylor controls nearly half of the company's total voting power.
Earlier this month, Bloomberg estimated that MicroStrategy could potentially rival some of the biggest companies in the tech-heavy Nasdaq-100 index in terms of total number of common shares.
The Virginia-based business intelligence firm was added to the index in late 2024.
MicroStrategy, of course, became one of the biggest success stories of the previous year, with its shares soaring by more than 500%.
The company's stock is so far up by more than 30% this January, recovering from the painful correction that it experienced in late 2024.
Dan Burgin
Vladislav Sopov