MicroStrategy Buys 2,138 Bitcoin, Seeks Billions in New Shares
Qadir AK30 Dec 20242 min read
MicroStrategy, the largest corporate holder of Bitcoin, has acquired 2,138 BTC for approximately $209 million, paying an average price of around $97,837 per Bitcoin. This brings its Bitcoin yield to 47.8% QTD and 74.1% YTD. As of December 30th, the company now holds a total of 446,400 BTC, valued at nearly $27.9 billion, with an average purchase price of $62,428 per Bitcoin.
Here’s more you should know.
More Buys to Follow?
Michael Saylor, the executive chairman of MicroStrategy, recently shared a chart from SaylorTracker, a platform tracking the company’s Bitcoin holdings. The post, with the caption “Disconcerting blue lines on SaylorTracker.com,” has raised questions about whether another big Bitcoin purchase is on the way.
Saylor is known for hinting at major Bitcoin buys through his posts, and his December tweet came before MicroStrategy’s purchase of 5,262 BTC worth $561 million. This recent tweet has many speculating that another purchase could be in the works.
MicroStrategy’s Dominance in Bitcoin Holdings
MicroStrategy continues to dominate as the largest corporate holder of Bitcoin. The company holds 442,262 BTC, worth about $41.4 billion. Its ongoing commitment to acquiring Bitcoin has solidified its position as a key player in the crypto market, with Saylor’s posts becoming a closely watched indicator of future purchases.
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Raising Capital for Bitcoin Acquisitions
To support its ambitious Bitcoin buying strategy, MicroStrategy recently filed with the SEC to seek approval for issuing billions of new shares. The proposal aims to increase the company’s Class A common shares from 330 million to 10.33 billion and its preferred shares from 5 million to 1.005 billion.
This move is designed to raise the necessary capital to fund further Bitcoin acquisitions.
Huge Milestone for MicroStrategy
MicroStrategy’s inclusion in the Nasdaq 100 has strengthened its position in the crypto industry. This achievement is expected to bring in up to $2 billion in passive fund inflows, boosting the company’s stock price and increasing its visibility among institutional investors.
Despite the ups and downs of the market, MicroStrategy’s focus on expanding its Bitcoin reserves remains strong.
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As MicroStrategy continues its Bitcoin accumulation strategy, the crypto world watches closely for what’s next in this high-stakes game.
FAQ
- MicroStrategy is not currently part of the S&P 500 but is listed on the Nasdaq-100.
