Key Takeaways
- MicroStrategi continues its bitcoin accumulation, announcing a $1.5 billion purchase today for 15,350 BTC.
- The company’s current Bitcoin holdings are estimated at $45 billion, which is over 2% of Bitcoin’s supply.
MicroStrategi announced today that it bought 15,350 BTC worth about $1.5 billion between December 9 and 15, marking its sixth consecutive week of bitcoin purchases. The announcement comes ahead of its inclusion in the Nasdaq-100 index, which takes effect next Monday.
MicroStrategi bought 15,350 BTC for ~$1.5 billion at ~$100,386 per #bitcoin and achieved a BTC return of 46.4% KTD and 72.4% ITD. From 15.12.2024. we have 439,000 $BTC bought for ~$27.1 billion at ~$61,725 per bitcoin. $MSTR https://t.co/SaVLNBVkrl
— Michael Sailor⚡ (@sailor) December 16, 2024
MicroStrategi financed the acquisition by selling 3,884,712 shares, generating net proceeds of about $1.5 billion, according to the SEC submission. MicroStrategi maintains $7.6 billion in available funds from its $21 billion market share sale facility for future bitcoin purchases.
The latest acquisition brings MicroStrategi’s total assets to 439,000 BTC, worth $45 billion at current market prices, representing over 2% of the total Bitcoin supply.
The company’s investments in Bitcoin have produced strong returns, with a year-to-date return of 72.4% through December 15.
According to Google Finance dataMSTR has been among the Nasdaq’s best-performing stocks this year, with a remarkable 547% year-to-date gain. This increase qualified the company for inclusion in the Nasdaq-100.
December 13 Nasdaq announced added its annual reconstitution of the Nasdaq-100 index, which featured three companies, including MicroStrategi, Palantir Technologies and Akon Enterprise.
The market reacted positively, with shares of MicroStrategi rising from $411 on Friday to near $434 in premarket trading on Monday, according to data from Yahoo Finance.
Inclusion in the Nasdaq-100 will likely help MicroStrategi reach its ambitious goal of accumulating $42 billion worth of bitcoins. The company is expected to have more financial flexibility to continue its aggressive bitcoin buying strategy.
