MicroStrategy, the American business intelligence firm and first corporate bitcoin holder, has continued increasing its holdings. As its founder, Michael Saylor, announced on Monday, the company acquired an additional 15,350 BTC to expand its holdings despite the uptrend in the price of BTC.
MicroStrategy has acquired 15,350 BTC for ~$1.5 billion at ~$100,386 per #bitcoin and has achieved BTC Yield of 46.4% QTD and 72.4% YTD. As of 12/15/2024, we hodl 439,000 $BTC acquired for ~$27.1 billion at ~$61,725 per bitcoin. $MSTR https://t.co/SaWLNBVkrl
— Michael Saylor⚡️ (@saylor) December 16, 2024
Over 2% of the Total Bitcoin Supply
MicroStrategy’s latest bitcoin purchase cost about $1.5 billion. It acquired the crypto at an average price of $100,386 per BTC, the first time Saylor’s company has bought bitcoin above the $100,000 mark.
Concluding its latest purchase, the publicly traded firm now holds 439,000 BTC acquired for $27.1 billion at approximately $61,725 per bitcoin. The business intelligence firm now controls about 2.10% of the total fixed bitcoin supply.
70%+ Profits
Saylor’s confidence in bitcoin over the years has yielded massive returns. Calculating by spot bitcoin price of $105,000, MicroStrategy sits in more than 70% profits as its holdings are currently worth over $46 billion.
MicroStrategy has achieved a BTC Yield of 46.4% QTD and 72.4% YTD. By adopting a strategic Bitcoin reserve, the company continues to generate more profits for its investors, following the uptrend in the BTC price.
Moreover, following the company market capitalization increase fueled by the crypto uptrend this year, it has increased its chances of making it into the Nasdaq-100 index.
MicroStrategy Leads the Pack
Since MicroStrategy started acquiring bitcoins in 2020, many publicly traded firms have followed in the company’s footsteps, adopting bitcoin as their primary reserve asset instead of holding fiat.
American Bitcoin mining firm Riot joined the pack earlier this month with its 5,117 bitcoins acquisition. Despite being a miner, the firm has revealed plans to buy BTC from the open market periodically. It now holds 16,728 bitcoins worth more than $1.7 billion.
The list includes Japanese firm Metaplanet, American Miner, Marathon Digital, and others.
Meanwhile, MicroStrategy’s Saylor recently stated that America should sell its Gold holdings and use the proceeds to acquire more BTC.
