MSTR: every day is a good day to buy Bitcoin.
Despite a significant pullback in cryptocurrency prices last week, $MicroStrategy(MSTR)$ , a major Bitcoin holder, continues to buy more. The company purchased 5,262 Bitcoins, marking its seventh consecutive week of increases.
MicroStrategy raised $561 million through a stock offering, using the funds to boost its Bitcoin reserves. The average purchase price last week was around $106,613.
The company now holds 444,262 Bitcoins, with an average cost of $62,257. While its Bitcoin bet has led to unrealized gains, leveraging to buy more Bitcoin could pose risks, especially if prices fall.
Despite this, founder Michael Saylor remains bullish, stating that every day is a good day to buy Bitcoin.
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