Business intelligence software provider MicroStrategy has once again demonstrated the company's commitment to its Bitcoin strategy. According to a document submitted to the SEC on Monday, MicroStrategy stated that last week it invested $209 million to purchase 2,138 bitcoins at an average price of $97,837. This marks the eighth consecutive week MicroStrategy has announced an increase in Bitcoin holdings.
The funding for this Bitcoin purchase by MicroStrategy primarily comes from the proceeds of selling company stock, and the company currently has about $6.88 billion in stock available for sale.
As of December 29, MicroStrategy's Bitcoin holdings have reached 446,400 coins, accounting for approximately 2.12% of the total Bitcoin supply (21 million), with a total value exceeding $41.2 billion at current market value.
According to the company's co-founder and executive chairman Michael Saylor, the average cost of Bitcoin held by MicroStrategy is approximately $62,428 per coin, with a total cost of about $27.9 billion (including fees and other related expenses).
MicroStrategy has acquired 2,138 BTC for ~$209 million at ~$97,837 per bitcoin and has achieved BTC Yield of 47.8% QTD and 74.1% YTD. As of 12/29/2024, we hodl 446,400 $BTC acquired for ~$27.9 billion at ~$62,428 per bitcoin. $MSTR https://t.co/58aXM7g6u2
— Michael Saylor (@saylor) December 30, 2024
This marks the eighth consecutive week MicroStrategy has increased its Bitcoin holdings. Since announcing the 'capital raise of $42 billion to buy Bitcoin' in October, MicroStrategy has purchased over 194,000 bitcoins, valued at approximately $18 billion, which accounts for about 43% of the current $41.2 billion holding value.
MicroStrategy joined the Nasdaq 100 index last week and is currently the 57th largest company in the index, accounting for approximately 0.38%.
MicroStrategy's stock price has recently come under pressure, falling more than 3% to $293.59 in after-hours trading on Monday, down over 40% from the historical high reached on November 21.
"Eighth consecutive week of increasing Bitcoin holdings! MicroStrategy invested $209 million to acquire 2,138 bitcoins" This article was first published on (Block Voice).
