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MicroStrategy buys 2,138 BTC to bring stash to 446,400

  • MicroStrategy has added to its Bitcoin holdings with another 2,138 BTC purchase
  • This is the eighth consecutive week that the US-listed company has purchased Bitcoin
  • MicroStrategy’s announcement comes a day after Michael Saylor posted the company’s BTC tracker.

MicroStrategy, the world’s largest publicly-traded holder of Bitcoin (BTC), has announced purchase of the flagship digital asset.

The company, whose BTC buying spree has seen it become known as a Bitcoin development company, revealed the latest purchase on Dec. 30.

MicroStrategy buys BTC again

In the announcement, the company disclosed its eighth consecutive week of BTC acquisition involved the scooping of 2,138 bitcoins for $209 million. The company used funds from its at-the-market share sales, which currently stands at over $6.88 billion.

Michael Saylor, the founder and executive chairman of MicroStrategy, had posted the company’s BTC tracker on Dec. 29, leading to speculation about today’s announcement.

For its most recent BTC acquisition, MicroStrategy spent approximately $97,837 per BTC. With this purchase, MicroStrategy has extended its lead as the world’s largest holder of Bitcoin among publicly traded companies. It now hodls 446,400 BTC, acquired for a total of $27.9 billion and at the average purchase price of $62,428 per bitcoin.

In total, the company has seen a BTC Yield of 47.8% quarter-to-date and 74.1% year-to-date.

Despite the buying, Bitcoin price remained negative on the daily and weekly time frames, trading around $93,114 at the time of writing. Per CoinMarketCap, BTC was down 1.8% in the past 24 hours and 2.6% in the past week.

Meanwhile, the MicroStrategy stock, which rose sharply amid the company’s joining of the Nasdaq 100, was down 13.3% in pre-market trading. MSTR closed at $330 on Dec. 27 but hovered around $319 at 8:30 ET on Dec. 30.

The post MicroStrategy buys 2,138 BTC to bring stash to 446,400 appeared first on CoinJournal.

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Weekly Price Analysis: No Santa Rally as Prices Range

  • Expectations for a “Santa rally” were dashed as prices of major coins traded sideways throughout the festive week.
  • Spot crypto ETFs logged mixed performance while open interest continued to fall across major cryptos.

Bitcoin

Bitcoin’s price fell from a weekly high of $99,859 to close at $93,449. However, the intermediate time frame analysis shows ranging movement that failed to break the previous week’s high or low.

Meanwhile, Bitcoin spot ETF flows logged four consecutive days of net outflows leading into Dec. 24. For the week ending on Dec 27, inflows were a net negative $89.70Mn.

Bitcoin’s open interest in the CME continues to dwindle with a strong price correlation as traders close their positions for the year.

BTC trades at $93,970.06 as of publishing.

Ethereum

Ethereum’s price action ranged throughout the week on lower volumes and open interest in the official markets and across major exchanges. Like Bitcoin, Ethereum’s price failed break below the previous week’s low at $3,094.67 or a range high at $3,550.80.

Spot ETH ETF flows show positive net weekly inflows of $349.3Mn after logging four days of positive inflows. On the other hand, open interest data shows dwindling levels as traders close contracts while winding down at the end of the year approaches.

ETH trades at $3,418.21 as of publishing.

Solana

Solana’s price action ranged between a locally formed high at $202.00 and the previous week’s low at $175.10. Price tested the range high on Dec. 25, driven largely by retail traders, but failed to break above.

Open interest data shows fluctuating levels, but generally lower compared to previous weeks.

SOL trades at $193.07 as of publishing.

Ripple

Ripple’s price action ranged as well, reaching a weekly high of $2.34 and logging a low of $2.11. However, within this range, price trends lower.

Open interest data shows sporadic levels driven largely by pockets of retail traders.

XRP trades at $2.06 as of publishing.

The post Weekly Price Analysis: No Santa Rally as Prices Range appeared first on CoinJournal.