MicroStrategy's latest Bitcoin purchase down $62 million due to price drop, impacting future investor obligations.

From Investing. Convert 2024-12-23 15:30:22 to December 23, 2024 3:30 pm:

MicroStrategy recently purchased 5,262 BTC for $561 million at an average price of $106,662 per BTC. However, Bitcoin’s price drop to $94,238 has set MicroStrategy back by over $65 million from its last purchase alone.

MicroStrategy’s Bitcoin purchases are financed through convertible notes, credit lines, share sales, and corporate bonds. The firm’s future plans include raising $42 billion from equity and fixed-income securities, with Bitcoin’s price playing a crucial role in meeting investor obligations.

As the largest corporate holder of Bitcoin, MicroStrategy’s actions could significantly impact the asset’s price outlook. Analysts believe that bullish sentiment could support Bitcoin’s price recovery, especially with the pending change of administration in the U.S. by Jan. 20, 2025.

Read more at Investing.com: Michael Saylor’s Latest Bitcoin Bet Down by $62 Million, Will It Recover? By U.Today