Business intelligence firm MicroStrategy has purchased an additional $1.1 billion worth of Bitcoin, according to a Monday announcement. This is the company’s 12th consecutive weekly purchase.
This time, the company’s average purchasing price was $105,596, the highest level to date.
The company’s total Bitcoin holdings have now reached 471,107 (nearly $47 billion at current prices).
MicroStrategy’s average buying price now stands at $64,511 following the most recent purchase.
MSTR stock slips by 6%
MicroStrategy’s stock (MSTR) is down by nearly 6% in premarket trading despite the announcement.
Bitcoin is currently changing hands at $99,103 after the cryptocurrency plunged by more than 5% over the past 24 hours.
The crypto market is under severe pressure after DeepSeek, an obscure Chinese AI startup, wreaked havoc on major tech stocks by releasing a highly affordable and open-source model that might reduce demand for large GPU clusters.
The shares of Nvidia (NVDA) are down as much as 13% in premarket trading. Tech giant Microsoft (MSTR), which holds a significant stake in OpenAI, has also plunged by nearly 7%.
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Source: https://u.today/breaking-microstrategy-announces-gargantuan-11-billion-bitcoin-purchase