MicroStrategy has once again enhanced its Bitcoin holdings by acquiring 15,400 BTC for $1.5 billion.
Purchase and Deal Details
According to a recent announcement, MicroStrategy acquired 15,400 BTC valued at approximately $1.5 billion, bringing its total Bitcoin holdings to 402,100. As of today, these assets are valued at $38.66 billion. Michael Saylor, CEO of MicroStrategy, confirmed that the company achieved a 38.7% yield this quarter and 63.3% year-to-date.
Funding the Purchase
According to a filing with the SEC, MicroStrategy entered into a sales agreement allowing it to sell up to $21 billion in common stock. Between November 25 and December 1, the company sold approximately $1.48 billion worth of shares, using the proceeds to acquire Bitcoin. As of December 2024, the company still has $11.3 billion worth of shares available for sale.
MicroStrategy's Long-term Strategy
This purchase marks the fourth consecutive week of Bitcoin acquisitions for MicroStrategy, emphasizing its long-term strategy of significant investment in cryptocurrency. In total, MicroStrategy's Bitcoin purchases now exceed $23.4 billion at an average price of $58,263 per BTC.
MicroStrategy continues to lead in corporate Bitcoin holdings, significantly outpacing its nearest competitors. The company plans to pursue further Bitcoin investments as part of its long-term strategy.
