Originally published on: December 16, 2024
MicroStrategy, a renowned corporate Bitcoin investor, recently made headlines by adding a whopping 15,350 BTC to its portfolio, spending a staggering $1.5 billion in cash. This strategic move took place between December 9 and 15, showcasing the company’s commitment to cryptocurrency.
The average purchase price of $100,386 per BTC was made possible by the proceeds from the issuance and sale of shares under a convertible notes sales agreement. This acquisition now brings MicroStrategy’s total Bitcoin holdings, including its subsidiaries, to a substantial 439,000 BTC valued at $45.6 billion.
Founder Michael Saylor couldn’t contain his excitement about the company’s Bitcoin performance, boasting a remarkable 46.4% yield quarter-to-date and an impressive 72.4% yield year-to-date. This success has fueled MicroStrategy’s ambitious plan to continue investing in Bitcoin, with Saylor expressing his willingness to purchase even at prices exceeding $100,000.
Notably, this acquisition follows another monumental purchase of 21,550 Bitcoins earlier in December, reaffirming MicroStrategy’s bullish stance on the cryptocurrency market. Saylor’s enthusiasm knows no bounds, as he boldly claims he would not hesitate to buy Bitcoin even at $1 million a coin.
MicroStrategy’s proactive approach to Bitcoin investment coincides with its stock price’s remarkable 490% increase year-to-date. This surge in stock value was further fueled by Nasdaq’s recent announcement to add MicroStrategy to the Nasdaq-100 Index, a move set to take effect on December 23.
The anticipation of MicroStrategy’s inclusion in this prestigious index has already had a positive impact on its stock price, with a 3% increase in premarket trading post the announcement. At the time of writing, MicroStrategy’s stock was trading at $408.70, while Bitcoin’s value stood at $103,941, marking a 1.3% increase over the past 24 hours.
With the cryptocurrency market evolving rapidly, MicroStrategy’s strategic investments in Bitcoin continue to make waves. As the company’s portfolio grows, observers and investors alike are eager to witness the unfolding saga of cryptocurrency adoption in the corporate world.
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