MicroStrategy continues to increase its position in Bitcoin, with a total value of about $45 billion
MicroStrategy bought an additional $1.50 billion worth of bitcoin by selling shares. This is the sixth week in a row that the company has announced a purchase of bitcoin. It currently owns about $45 billion worth of bitcoin. Last Friday, MicroStrategy announced that it would be included in the Nasdaq 100 index on December 23. The decision to include the company in the Nasdaq 100 index marks an institutional endorsement of its controversial founder, Michael Thaler. From December 9 to December 15, MicroStrategy acquired 15,350 bitcoins at an average price of about $100,386, according to documents disclosed by the U.S. Securities and Exchange Commission (SEC) on Monday. As the company accelerates its bitcoin purchases, its stock price has risen more than 500% this year. MicroStrategy aims to raise $42 billion over the next three years by selling shares in the market and issuing convertible bonds, which will be used to buy more bitcoins.