Key Takeaways
- MicroStrategy continues its Bitcoin accumulation, today announcing the purchase of 15,350 BTC for $1.5 billion.
- The company’s current Bitcoin holdings are worth $45 billion, accounting for more than 2% of the Bitcoin supply.
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MicroStrategy today announced that it acquired 15,350 BTC worth approximately $1.5 billion between December 9 and 15, marking its sixth consecutive week of Bitcoin purchases. This announcement comes ahead of the inclusion of the Nasdaq-100 index, which will take effect next Monday.
MicroStrategy acquired 15,350 BTC at ~$100,386 per piece for ~$1.5 billion. #Bitcoin Achieved BTC returns of 46.4% QTD and 72.4% YTD. As of December 15, 2024, we have 439,000. $BTC It was acquired for ~$27.1 billion at ~$61,725 per Bitcoin. $MSTR https://t.co/SaWLNBVkrl
— Michael Saylor⚡️ (@saylor) December 16, 2024
MicroStrategy financed the acquisition through the sale of 3,884,712 shares, generating net proceeds of approximately $1.5 billion, according to SEC filings. MicroStrategy maintains $7.6 billion of available funds from its $21 billion market share sale facility for future Bitcoin purchases.
The acquisition brings MicroStrategy’s total Bitcoin holdings to 439,000 BTC, equivalent to $45 billion at current market prices and representing more than 2% of Bitcoin’s total supply.
The company’s Bitcoin investment has generated strong returns, with a 72.4% year-to-date return as of December 15.
MSTR is one of the best-performing stocks on Nasdaq this year, up an impressive 547% year-over-year, according to Google Finance data. This surge made the company eligible for inclusion in the Nasdaq-100.
On December 13, Nasdaq announced the annual reconstitution of the Nasdaq-100 index with the addition of three companies, including MicroStrategy, Palantir Technologies, and Axon Enterprise.
The market responded positively, with MicroStrategy shares rising from $411 on Friday to close to $434 in pre-market trading on Monday, according to Yahoo Finance data.
Inclusion in the Nasdaq-100 will help MicroStrategy achieve its ambitious goal of accumulating $42 billion worth of Bitcoin. The company is expected to have greater financial flexibility to continue its aggressive Bitcoin acquisition strategy.
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