MicroStrategy continued its aggressive Bitcoin acquisition strategy, purchasing 5,262 BTC for $561 million despite the recent market downturn.
According to a Dec. 23 filing with the U.S. Securities and Exchange Commission (SEC), the company said the purchase price averaged $106,662 per Bitcoin.
This is the seventh week of acquisitions, bringing 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 company’s holdings are worth more than $42 billion.
MicroStrategy’s Bitcoin investments have generated notable returns, with quarterly BTC returns reaching 47.4% and annual gains reaching 73.4%.
Meanwhile, the company’s MSTR shares will be added to the Nasdaq 100 stock index on December 23. According to Google Finance data, the stock is down 3.08% at press time to $353.
New board members
The latest acquisition follows the recent addition of three new board members, bringing the size of the board to nine.
According to a Dec. 20 SEC filing, MicroStrategy added Brian Brooks, Jane Dietze and Gregg Winiarski to its board of directors. These individuals would bring to the Bitcoin-focused company extensive and diverse experience gained from large companies involved in digital assets.
Brooks, a household name in crypto, has held key positions at major crypto companies, including as CEO of Binance.US and Chief Legal Officer of Coinbase. He also briefly served as acting comptroller of the currency during President Donald Trump’s first administration.
Conversely, Dietze has served as Brown University’s chief investment officer since 2018. She also has experience serving on the board of directors of Galaxy Digital, a major digital assets company.
Finally, Winiarski further diversified the board’s capabilities by bringing expertise in the sports collectibles and apparel industry. He is the Chief Legal Officer of Fanatics, a privately held global digital sports platform.
