Michael Saylor’s MicroStrategy has announced the purchase 2,138 Bitcoins worth nearly $209 million on December 30th. The acquisition stays in tandem with the firm’s weekly Bitcoin buying spree, making the total Bitcoin holdings hit 446,400 BTC.
The acquisition comes at a time when Bitcoin prices have been down over 1.3%. At the press time, the Bitcoin is trading at $93,032.12, down 1.82% as compared to the same time last day.
MicroStrategy’s Latest Bitcoin Buy Might Be Last Before Blackout Period
MicroStrategy’s present Bitcoin buy might be last before it enters a blackout period. Previous market rumors suggest that MicroStrategy might see a black out period as a part of insider trading.
MicroStrategy’s blackout period in January 2025 might see the firm ceasing to issue convertible bonds and equities through “on-site trading” (ATM).
However, these claims still stay as a rumor with no official confirmation. MicroStrategy’s blackout period is a component of the insider trading procedure.
Blackout periods usually span two weeks to a month, and most companies re-permit insider trading within two days after quarterly earnings presentations.
Although the Securities and Exchange Commission (SEC) does not prohibit insider trading between the end of a fiscal quarter and the filing of earnings, many companies self-impose a blackout period as a type of Wall Street custom, as long as all disclosures are otherwise current.
If the Blackot period is undertaken, a large and growing group of long-term MSTR investors who have been accustomed to Executive Chairman Michael Saylor’s monthly Bitcoin purchases would be disappointed.
Michael Saylor Stays Pro-Bitcoin Despite Current Price Volatility
Michael Saylor has time and again stayed in a pro-Bitcoin opinion state, no matter how volatile the market might be. His continuous Bitcoin purchase has demonstrated his pro-crypto stance.
Over the next three years, the company aims to raise an ambitious $42 billion through a combination of $21 billion in stock and $21 billion in fixed-income instruments.
MicroStartegy Enters Top-100 Listed Firms in US
MicroStrategy’s continuous Bitcoin buy has been extremely fruitful for the firm, making it even climb in the top 100 listed firms in the US.
The Bitcoin behemoth MicroStrategy climbed the ranks to become one among the top 100 US listed firms. On November 20th, the company shot up to the 97th position in the US list of the top 100 listed companies, according to official data.
MSTR stock price at present is still down over 3% in pre-market trading. However, this might simply be a general financial market weakness, though. In the days ahead, the company’s stock is probably going to follow the progress in the financial diaspora.
Read Also: MicroStrategy’s Bitcoin Holdings Sees $20 Billion in Unrealized Profits as BTC Hits $107K