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MicroStrategy Buys $1.5 Billion Worth of Bitcoin Ahead of Joining the Nasdaq 100

by Sham
December 16, 2024
in Business, Crypto
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MicroStrategy Buys $1.5 Billion Worth of Bitcoin Ahead of Joining the Nasdaq 100
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  • MicroStrategy acquired 15,350 additional Bitcoin between December 9 and 15, spending around $1.5 billion in cash
  • The latest purchase brings MicroStrategy’s total Bitcoin holdings to 439,000 BTC, bought at an aggregate price of $2.71 billion or an average of $61,725 per BTC
  • MicroStrategy’s stock will be added to the Nasdaq-100 Index before the market opens on December 23, fueling a rally in its share price

MicroStrategy, a prominent Bitcoin corporate holder, has recently added 15,350 BTC to its holdings, investing approximately $1.5 billion. The acquisition was made between December 9 and 15, marking an increase in the company’s total Bitcoin reserves.

ICYMI: MicroStrategy $MSTR has acquired an additional 15,350 Bitcoin for $1.5 billion at $100,000 per $BTC 🤯

MicroStrategy's total Bitcoin portfolio now stands at ~$47 billion pic.twitter.com/FIlAZkX83A

— BlockNews (@blocknewsdotcom) December 16, 2024

MicroStrategy’s Latest Bitcoin Purchase and its Impact on Total Holdings

MicroStrategy sealed the deal for the latest Bitcoin purchase at an average price of $100,386 per BTC. These funds were raised through the issuance and sale of shares under a convertible notes sales agreement. This move has expanded MicroStrategy’s and its subsidiaries’ total Bitcoin holdings to 439,000 BTC, valued at approximately $4.56 billion. The average purchase price of these holdings stands at $61,725 per BTC, and the total investment sums up to $27.1 billion.

MicroStrategy’s Bitcoin Performance and Future Acquisition Plans

MicroStrategy’s founder, Michael Saylor, highlighted the impressive performance of the company’s Bitcoin investments, noting a 464% yield quarter-to-date and a 724% yield year-to-date. Interestingly, this latest Bitcoin acquisition comes after Saylor’s statement that he would continue buying Bitcoin even if the price exceeded $100,000. He further added that he wouldn’t hesitate to invest $1 billion daily in Bitcoin, even if the price reached $1 million per coin

MicroStrategy’s Forthcoming Entry into the NASDAQ 100

MicroStrategy’s aggressive Bitcoin buying strategy coincides with a surge in its share price, which has seen a 490% increase year-to-date. On December 14, NASDAQ announced that MicroStrategy’s stock would be included in the NASDAQ-100 Index, which tracks the performance of the 100 largest non-financial companies listed on the NASDAQ stock exchange. This announcement has sparked a further rise in MicroStrategy’s stock price.

Conclusion

MicroStrategy’s bold moves in the Bitcoin market underscore its confidence in the cryptocurrency’s potential. As the company prepares to join the NASDAQ-100 Index, the future seems promising for this Bitcoin giant. With Bitcoin trading at around $103,941, up by approximately 1.3% over the past 24 hours, MicroStrategy’s Bitcoin strategy appears to be paying off handsomely.

Tags: BitcoinBitcoin reservesconvertible notesMichael SaylorMicrostrategy
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