MicroStrategy has maintained its aggressive Bitcoin acquisition strategy, marking the eighth consecutive week of purchases and bringing its total holdings to 446,400 BTC, valued at approximately $41.5 billion at current market prices.
MicroStrategy Acquires 2,138 Bitcoin for $209 Million
On December 30, MicroStrategy announced the addition of 2,138 Bitcoin to its reserves between December 23 and December 29. The purchase, totaling $209 million, was made at an average price of about $97,837 per BTC. To fund the acquisition, the company sold 592,987 shares during the same week, as disclosed in a regulatory filing.
Impressive Bitcoin Yield in 2024
The firm reported a year-to-date Bitcoin yield of 74.1% as of December 30, with a quarterly yield of 47.8% between October 1 and December 29. These metrics underscore MicroStrategy’s successful cryptocurrency investment strategy.
Michael Saylor Hints at Continued Investment
MicroStrategy’s co-founder and executive chairman, Michael Saylor, hinted at the latest acquisition on December 29, referencing “disconcerting” lines on the Saylor Tracker, a tool monitoring the company’s Bitcoin purchases. Saylor has repeatedly affirmed the company’s commitment to buying Bitcoin regardless of its price, even envisioning acquisitions at a potential $1 million per BTC.
Sustained Bitcoin Purchases Amid Changing Volumes
This recent purchase extends the firm’s streak of weekly Bitcoin acquisitions since October 31, during which it has added 194,180 BTC to its holdings. However, the pace of purchases has slowed compared to November, when the company acquired over 100,000 BTC in a single month.
Plans to Issue More Shares for Future Bitcoin Purchases
In a December 23 filing with the U.S. Securities and Exchange Commission, MicroStrategy sought approval to increase its authorized Class A common stock from 330 million shares to 10.33 billion shares and its preferred stock from five million to over one billion shares. This move aims to provide greater flexibility for issuing shares to fund additional Bitcoin acquisitions.
MicroStrategy’s steadfast commitment to Bitcoin continues to make waves in the financial and cryptocurrency markets, further solidifying its position as a leading corporate Bitcoin investor.
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