MicroStrategy Incorporated (NASDAQ:MSTR) has continued its aggressive Bitcoin accumulation strategy, acquiring $209 million worth of the cryptocurrency between December 23 and December 29, a regulatory filing with the Securities and Exchange Commission on Monday has revealed.
This marks the eighth consecutive week of Bitcoin purchases for the Tysons Corner-based software company, which has effectively transformed itself into a leveraged proxy for Bitcoin under the leadership of its co-founder Michael Saylor.
During this latest round of acquisitions, MicroStrategy purchased 2,138 Bitcoin at an average price of approximately $97,837 per coin, the filing showed.
MicroStrategy said it has now accumulated a total of around 446,400 Bitcoin, with an aggregate value of approximately $27.9 billion and an average purchase price of $62,428 per coin.
The firm's aggressive Bitcoin acquisition strategy has helped MicroStrategy achieve a market capitalization of over $80 billion, which enabled the company to join the Nasdaq 100 Index last week.
MicroStrategy is on track to raise $42 billion in capital over the next three years through stock sales and convertible debt offerings which will be used to further increase its Bitcoin holdings.