MicroStrategy Boosts Bitcoin Holdings to 478,740 BTC

MicroStrategy, the Tysons Corner, Virginia-based company formerly known as MicroStrategy, has resumed its bitcoin (BTC) purchases, increasing its holdings to 478,740 BTC. The company bought 7,633 BTC in the week ended Feb. 9, with an average purchase price of $97,255 per bitcoin. This purchase raised the overall average purchase price to $65,033.

The company did not buy any bitcoin in the week ended Feb. 2, likely due to a blackout period during its earnings week. On Feb. 6, the company reported a fourth-quarter net loss of $3.03 per share, compared with income of $0.50 per share a year earlier.

Michael Saylor, the executive chairman of MicroStrategy, teased the purchase announcement on Sunday, as he has done for the past few months: "Death to the blue lines. Long live the green dots."

MicroStrategy's bitcoin purchases have been a significant part of its strategy, with the company now holding a substantial amount of the largest cryptocurrency. The company's commitment to bitcoin has been a topic of interest in the crypto community, and its purchases have been closely watched by investors and analysts.

The company's bitcoin holdings are now worth billions of dollars, and its continued purchases suggest a strong belief in the long-term potential of the cryptocurrency. As the crypto market continues to evolve, MicroStrategy's strategy may serve as a model for other companies looking to diversify their holdings and invest in digital assets.