Catenaa, Tuesday, December 17, 2024 – MicroStrategy has acquired an additional 15,350 bitcoin for approximately $1.5 billion, averaging $100,386 per coin, as the company continues its aggressive purchasing strategy.
The latest acquisition, spanning December 9 to December 15, follows the sale of 3.88 million MicroStrategy shares for a similar amount. The company now holds 439,000 bitcoin, valued at over $45 billion, representing about 2.1% of the total bitcoin supply.
MicroStrategy’s total bitcoin purchases, totaling $27.1 billion, were made at an average price of $61,725 per coin, including expenses, co-founder Michael Saylor confirmed. The company has added $17.5 billion worth of bitcoin—39% of its current position—over the past six weeks alone.
Despite investor concerns regarding MicroStrategy’s equity and debt-funded bitcoin acquisitions, analysts at Bernstein remain optimistic.
“MicroStrategy’s long-term strategy aligns with its view that bitcoin will surpass gold and beyond,” analysts noted, predicting further capital raises.
MicroStrategy’s stock has surged 490% year-to-date and closed up 4.2% at $408.67 on Friday. The company will join the Nasdaq 100 index on Dec. 23, further boosting visibility and liquidity. Analysts estimate this inclusion will drive $2.1 billion in ETF-related stock purchases.
While challenges remain for inclusion in the S&P 500, new accounting rules in 2025 could make MicroStrategy eligible by allowing it to recognize unrealized bitcoin gains.
