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MicroStrategy Adds $324M in Bitcoin, Extending Its Monday Buying Spree
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MicroStrategy Adds $324M in Bitcoin, Extending Its Monday Buying Spree

Dec, 23 2024 14:31
MicroStrategy Adds $324M in Bitcoin, Extending Its Monday Buying Spree

In a significant development, MicroStrategy has extended its consistent pattern of Monday Bitcoin acquisitions, as disclosed by the company's Co-founder, Michael Saylor. Today, the firm has added 5,262 BTC to its cryptocurrency holdings, investing a sum below the billion-dollar mark, signaling a more restrained approach compared to previous purchases.

MicroStrategy's latest acquisition amounts to approximately $561 million, with each bitcoin costing an average of $106,662.

This transaction has elevated the firm's quarter-to-date Bitcoin yield to 47.4% and year-to-date yield to 73.7%. As of December 22, 2024, the company's Bitcoin holdings total 444,262 BTC, acquired for roughly $27.7 billion at an average price of $62,257 per bitcoin.

Earlier purchase announcements, all occurring on Mondays, involved transactions exceeding $1 billion, making today's modest acquisition noteworthy. The addition of 5,262 BTC at this juncture brings the total stockpile to 444,262 BTC. Notably, the majority of these acquisitions transpired prior to Wednesday, following which Bitcoin prices dipped below $100,000.

Despite the market's corrective trends, MicroStrategy's Bitcoin investment, which initially cost $27.7 billion, has surged to a valuation of $42.6 billion.

This surge can be attributed to today's market values. The company has also witnessed a dramatic upswing in its stock prices, with a significant increase of over 400% in the past year. Currently, shares are valued at $364. A major achievement for MicroStrategy is its stocks' inclusion in the Nasdaq 100 today, marking a remarkable milestone.

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