MicroStrategy Shares Jump as Firm Buys More Bitcoin at USD 49K

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US-based software company reported that they had spent USD 94m more on Bitcoin (BTC) in order to add to their balance sheet. This brings the total holdings of the company to BTC 124.391 (USD 5.9bn).

MicroStrategy’s Bitcoin purchases are a regular occurrence. The move was shared on Twitter by CEO Michael Saylor.

Saylor stated that MicroStrategy had purchased 1,914 additional bitcoins at a price average of $492,229 per bitcoin.

MicroStrategy shares rose after the announcement. They are currently up by 1.04%. These gains are coming after shares of MicroStrategy have been trading lower for much of November and December. They lost nearly 37% from a peak on November 9th.

Today’s announcement comes less than one month after Saylor announced that his company had purchased more BTC.

The bitcoin bull stated that the company had purchased 1,434 bitcoin on December 9. This is slightly lower than the purchase made today in USD and BTC terms. The average price at which the coins were purchased was USD 57 477. This is well over today’s purchase price.

As usual, the Bitcoin community welcomed Saylor’s latest announcement. Some wondered why Saylor’s average price was higher than USD 49,000, with the current market price in the USD 46-47k area.

The purchase has not been reacted to by the bitcoin market in any significant way. BTC traded at USD 47,404 per coin as of 15:38 UTC.

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