Michael Saylor’s MicroStrategy (MSTR) has expanded its bitcoin (BTC) holdings for the tenth consecutive week, underscoring its continued commitment to the cryptocurrency as a key reserve asset.
In the week ending January 12, the company purchased 2,530 BTC for $243 million, increasing its total holdings to 450,000 BTC. The average purchase price for the latest acquisition was $95,972, bringing the overall average cost of MicroStrategy’s holdings to $62,691 per bitcoin.
Saylor teased the announcement on X over the weekend, ahead of his presentation at the ICR Conference in Orlando on Monday. During the event, he urged executives to consider bitcoin as a superior alternative to bonds, which he labeled as “toxic,” according to Bloomberg.
“Bitcoin has significantly appreciated since 2020 when MicroStrategy adopted it as its primary treasury reserve asset,” Saylor noted, contrasting its performance with the decline in bond markets over the same period.
Despite the announcement, MicroStrategy shares were down nearly 5% in premarket trading, mirroring a similar dip in bitcoin’s price, which hovered just above $90,000.
Other companies are also following MicroStrategy’s lead. Semler Scientific (SMLR) announced it had acquired an additional 237 BTC for $23.3 million, funded through proceeds from an at-the-market (ATM) equity offering and operating cash flow. The purchase price averaged $98,267 per bitcoin, bringing SMLR’s total holdings to 2,321 BTC. The aggregate cost of its holdings now stands at $191.9 million, with an average purchase price of $82,867.
Shares of SMLR fell nearly 7% in premarket trading, reflecting broader market sentiment.
