Catenaa, Saturday, January 4, 2024 – MicroStrategy has further solidified its position as a leading corporate Bitcoin holder by acquiring an additional 2,138 Bitcoin (BTC) for approximately $209 million, the company announced Monday, December 30.
The acquisition, completed between Dec. 23 and Dec. 29, was made at an average price of $97,837 per Bitcoin, including fees.
As of December 29, the business intelligence firm now holds 446,400 BTC, purchased at an average price of $62,428 per token, representing a total investment of $27.9 billion. The latest acquisition was funded through the company’s ongoing at-the-market (ATM) equity offering program, with $6.8 billion worth of shares still available for sale under the plan.
The announcement comes amid strong quarterly and annual Bitcoin yields for MicroStrategy, reported at 47.8% and 74.1%, respectively. CEO Michael Saylor highlighted the company’s commitment to its ambitious “21/21 Plan,” which aims to acquire $42 billion worth of Bitcoin by 2025.
Since the plan’s launch in October, MicroStrategy has acquired over 194,000 BTC, accounting for 42% of its target. This latest purchase marks the company’s eighth consecutive week of Bitcoin accumulation.
MicroStrategy’s stock performance in 2024 has been exceptional, delivering a 382% return, outpacing Bitcoin’s 165% gain and the S&P 500’s 26% return. The company’s inclusion in the Nasdaq 100 index and the Invesco QQQ ETF is expected to drive additional investment interest.
MicroStrategy remains a dominant force in corporate cryptocurrency investment, as Saylor continues to champion Bitcoin’s role in the future of finance.
