MicroStrategy, a company well known for its massive investments in bitcoin, recently made a major new acquisition. Between December 9 and 15, 2024, the company purchased 15,350 bitcoins for a total amount of $1.5 billion. This transaction was made at an average price of $100,386 per BTC.
MicroStrategy: 439,000 bitcoin for $27.1 billion
This new acquisition brings MicroStrategy's total bitcoin holdings to 439,000 BTC, purchased for a total price of $27.1 billion. On average, the company paid $61,725 per BTC. Michael Saylor, the founder of MicroStrategy, highlighted the company's impressive performance in bitcoin, noting a return of 46.4% for the current quarter and 72.4% for the current year.
This aggressive bitcoin buying strategy by MicroStrategy comes amid a continued rise in the company's stock price, which has soared 490% since the start of the year. Additionally, MicroStrategy was recently added to the Nasdaq-100 Index, reflecting the company's growing growth and importance in the market.
A bright future for BTC
This recent acquisition of BTC by MicroStrategy strengthens its position as one of the largest bitcoin holders in the world. The company now owns more than 2% of the total bitcoin supply. This bold strategy reflects Saylor and his team's belief in the long-term potential of BTC as a store of value and investment asset.
Michael Saylor expressed confidence in the future of BTC, stating that he would continue to buy bitcoin even if the price exceeded $100,000. He even mentioned the possibility of buying bitcoins at a million dollars each in the future.
In sum, MicroStrategy's purchase of 15,350 bitcoins for $1.5 billion is a significant step in the company's investment strategy. This acquisition not only strengthens MicroStrategy's position in the BTC market, but also highlights the company's continued confidence in the growth potential of this cryptocurrency.
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