Nasdaq-listed business intelligence firm MicroStrategy has announced it acquired an additional 15,400 Bitcoin for $1.5 billion, at an average price of $95,976 per coin, which helped its total BTC balance surpass 402,100 coins.
According to a post shared on the microblogging platform X (formerly known as Twitter) by the company’s co-founder and chairman, Michael Saylo, MicroStrategy has achieved a BTC Yield of 38.7% so far this year, and 63.3% year-to-date and now holds 402,100 BTC that were acquired for $23.4 billion.
The company has acquired its BTC at an average of $58,263 per coin and its entire BTC stash is now worth $37.4 billion.
MicroStrategy has acquired 15,400 BTC for ~$1.5 billion at ~$95,976 per #bitcoin and has achieved BTC Yield of 38.7% QTD and 63.3% YTD. As of 12/2/2024, we hodl 402,100 $BTC acquired for ~$23.4 billion at ~$58,263 per bitcoin. $MSTR https://t.co/K3TK4msGp0
— Michael Saylor⚡️ (@saylor) December 2, 2024
To fund this latest acquisition, MicroStrategy sold 3.7 million shares of its Class A common stock, generating net proceeds of $1.48 billion. It’s worth noting MicroStrategy’s BTC Yield doesn’t reflect the yield it generates on its BTC holdings, but rather reflects how much Bitcoin each MSTR share represents over time.
The move comes at a time in which Bitcoin whales have been taking advantage of the flagship cryptocurrency’s recent price dip to keep on accumulating BTC after short-term holders moved nearly $4 billion in the cryptocurrency to exchanges.
According to CryptoQuant analyst Cauê Oliveira, Bitcoin whales took advantage of the “panic selling” to accumulate, with 16,000 BTC worth nearly $1.5 billion entered whale reserves in a single day after short-term holders’ sales.
In a post, the analyst noted that the figure was “reflected in institutional addresses on the network” but suggested more BTC was accumulated, as the funds that weren’t withdrawn from cryptocurrency exchanges and remain in users’ accounts aren’t counted.
Per his words, the whale accumulation hasn’t been sufficient to demonstrate a “more widespread buy-the-dip” pattern,” which he said remains concentrated among institutional investors.
Featured image via Unsplash.
