MicroStrategy has announced the acquisition of 1,070 Bitcoin (BTC) for approximately $101 million, averaging $94,004 per BTC. This brings the company's total holdings to 447,470 BTC, purchased at an aggregate cost of around $27.97 billion, averaging $62,503 per BTC.

The acquisition comes as Bitcoin (BTCUSD) surpasses the $100,000 mark on intraday charts, signalling potential optimism among buyers.

MicroStrategy Continues Bitcoin Acquisition Streak

On December 29, MicroStrategy acquired an additional 2,138 BTC for $209 million, increasing its total to 446,400 BTC. This purchase marks the eighth consecutive week of acquisitions, funded through the company's at-the-market program. MicroStrategy retains $6.88 billion under this program.

Previously, the company purchased 5,262 BTC for $561 million, at an average price of $106,662 per BTC, raising its holdings to 444,262 BTC with an average acquisition cost of $62,257 per BTC, as reported by Finance Magnates.

MicroStrategy joined the Nasdaq 100 index on December 23, 2024, aligning it with top firms and offering indirect Bitcoin exposure through the Invesco QQQ Trust ETF. This move underscores the company's substantial role in the cryptocurrency market.

Bitcoin Climbs Back to 100K After Support at 91K

BTCUSD, after breaching the 100K mark earlier, underwent a prolonged bearish correction. Upon finding support around 91K, the cryptocurrency has started moving upwards.

The H1 chart shows an uptrend, with the price bouncing multiple times at the trend line, continuing its bullish path. The price broke above the 100K level, making a bullish breakout on the intraday charts. This could be significant as it's the first time the cryptocurrency has surged back towards 100K after the holiday period.

This article was written by Tareq Sikder at www.financemagnates.com.