Bitcoin development company MicroStrategy has bought the top—again—spending over $1 billion on the biggest cryptocurrency ahead of its Monday plunge.
Michael Saylor (co-founder of the firm and executive chairman) said that, over the last week, the company spent $1.1 billion on 10,107 Bitcoins, at an average cost per coin of $105,596.
CoinGecko says that Bitcoin now trades for around $100,700. It was as low at $98,380 as of Monday morning New York local time.
MicroStrategy now holds 471,107 Bitcoin—currently valued at more than $47 billion. Saylor told X, formerly Twitter, that MicroStrategy has spent a combined $30.4 Billion on Bitcoins. The average Bitcoin price is $64,511.
MicroStrategy, once a sleepy company of software, is now a hot topic. The firm’s stock market value has soared and shareholders have made huge profits since it adopted a Bitcoin-based strategy.
Through its Nasdaq-listed shares, it tries to offer investors what the company calls a safe exposure to Bitcoin.
The company first bought Bitcoin in 2020 and hasn’t stopped since—though over the past 12 weeks it has accelerated its buying, announcing a new purchase each and every week during that span.
Saylor argues that Bitcoin is the best inflation hedge and way to preserve wealth over the long-term—and urges other companies to do the same.
The company in December joined the Nasdaq-100, an index of the top 100 non-financial companies on the Nasdaq stock market, securing its place with some of the world’s most valuable companies—like Apple and Microsoft.
The price of MicroStrategy (NASDAQ:MSTR) stock is about $340 per share. This represents a drop of 14% in the past week, and 4% on Monday, amid the general stock market decline, which was reportedly fueled by DeepSeek, a Chinese AI-based model.
Editor by Andrew Hayward
