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MicroStrategy's aggressive BTC strategy strengthens its position in the digital asset market.
Key Takeaways
- MicroStrategy acquired 21,550 Bitcoin for $2.1 billion, raising its total holdings to 423,650 BTC.
- The company has raised capital through share sales to fund its ongoing Bitcoin purchases.
MicroStrategy, the world’s largest corporate Bitcoin holder, said Monday it had added 21,550 BTC worth around $2.1 billion to its portfolio. The acquisition, made between Dec. 2 and Dec. 8, brings its total Bitcoin stash to 423,650 BTC, valued at approximately $42 billion at current market prices.
MicroStrategy has acquired 21,550 BTC for ~$2.1 billion at ~$98,783 per #bitcoin and has achieved BTC Yield of 43.2% QTD and 68.7% YTD. As of 12/8/2024, we hodl 423,650 $BTC acquired for ~$25.6 billion at ~$60,324 per bitcoin. $MSTR https://t.co/8r7bFqMFof
— Michael Saylor⚡️ (@saylor) December 9, 2024
The latest move also marks the company’s fifth consecutive week of Bitcoin purchases, following last week’s acquisition of 15,400 BTC for $1.5 billion at an average price of $95,976 per coin.
According to an SEC filing reported on Monday, MicroStrategy used proceeds from a 5.4 million stock sale to fund its Bitcoin purchase. The company still has over $9 billion worth of shares remaining available for sale as part of its planned $42 billion capital raise over the next three years, split between a $21 billion equity offering and $21 billion in fixed-income securities.
Michael Saylor, the company’s co-founder and executive chairman, noted that the total holdings were acquired at an average price of $60,324 per BTC, representing a total cost of around $25.6 billion, including fees and expenses.
The firm’s Bitcoin Yield, which measures the percentage change in Bitcoin holdings relative to diluted shares, reached 68.7% year-to-date as of Dec. 9.
This is a developing story.
Disclaimer
English (US) ·