Business intelligence firm MicroStrategy has announced a $1.54 billion Bitcoin purchase, extending its weekly streak.
The company paid the average price of $100,386 for its newly acquired coins. This is the first time that it has climbed into six-figure territory.
The company now holds a total of 439,000 BTC that were purchased for $27.1 billion at an average price of $61,725.
As reported by U.Today, the Virginia-based business intelligence firm previously announced a $2.1 billion purchase on Dec. 9. The company is now significantly ahead of its capital-raising target that was announced in October.
MicroStrategy (MSTR) shares are up by more than 3.5% in pre-market trading after the company was included in the tech-heavy Nasdaq-100 index on Friday.
Meanwhile, Bitcoin recently reached a new record high of $106,352, according to CoinGecko data.
During a recent CNBC interview, Saylor compared his Bitcoin purchases to buying real estate in Manhattan. "Every time Manhattan real estate goes up in value, they [developers] issue more debt to develop real estate. That's why your buildings are so tall in New York City. It's been going on for 350 years," he said.
As reported by U.Today, Saylor recently opined that the Bitcoin community would never trust his company again if it decided to take profits after securing massive gains with its holdings. The Bitcoin holdings of the business intelligence firm currently stand at $46.5 billion, according to data provided by Bitcoin Treasuries.
The shares of MicroStrategy are up by nearly 500% on a year-to-date basis.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Yuri Molchan
Vladislav Sopov
Dan Burgin