By Nermeen Nabil Khear 
MicroStrategy continued its aggressive Bitcoin acquisition strategy, buying 5,262 BTC for $561 million despite the recent market downturn.
According to a Dec. 23 filing with the US Securities and Exchange Commission (SEC), the firm stated that the purchase price averaged $106,662 per Bitcoin.
This marks the seventh week of acquisitions, pushing the company’s total Bitcoin holdings to over 444,000 BTC.
MicroStrategy’s cumulative investment now stands at $27.7 billion, with an average purchase price of $62,257 per Bitcoin. Based on current market values, the firm’s holdings are worth more than $42 billion.
MicroStrategy’s Bitcoin investments have yielded notable returns, with quarterly BTC yields reaching 47.4% and annual gains hitting 73.4%.
Meanwhile, the firm’s MSTR shares will be added to the Nasdaq 100 stock index on Dec. 23. According to Google Finance data, the stock is down 3.08% as of press time to $353.
New board members
The latest acquisition follows the firm’s recent addition of three new board members, increasing the board’s size to nine.
According to a Dec. 20 SEC filing, MicroStrategy has added Brian Brooks, Jane Dietze, and Gregg Winiarski to its board. These individuals would bring extensive, diverse experience from major firms involved in digital assets to the Bitcoin-focused company.
Brooks, a familiar name within the crypto space, has held key roles at major crypto firms, including as the CEO of Binance.US and Chief Legal Officer at Coinbase. He also briefly served as the Acting Comptroller of the Currency under President Donald Trump’s first administration.
Conversely, Dietze has been Brown University’s Chief Investment Officer since 2018. She also has board experience with Galaxy Digital, a prominent digital asset firm.
Lastly, Winiarski further diversified the board’s capabilities by bringing sports collectibles and apparel industry expertise. He is the Chief Legal Officer at Fanatics, a privately held global digital sports platform.
The post MicroStrategy invests $561 million in Bitcoin amid market pullback appeared first on CryptoSlate.
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.