Key Takeaways
- MicroStrategy purchased 2,138 BTC for $209 million.
- The company's Bitcoin holdings now total 446,400 BTC.
- MicroStrategy seeks to raise share limits to fund future purchases.
Business intelligence firm MicroStrategy purchased 2,138 Bitcoin between Dec. 23 and Dec. 29, spending $209 million in cash at an average price of $97,837 per BTC.
This marks the eighth consecutive week of Bitcoin purchases for the company.
The acquisition, revealed on Dec. 30, brings MicroStrategy’s total holdings to 446,400 BTC, valued at approximately $41.5 billion at current prices.
The purchase was funded by selling 592,987 shares during the same week.
Yield surpasses 74% in 2024
As of Dec. 30, MicroStrategy reported a year-to-date yield of 74.1% on its Bitcoin holdings.
Between Oct. 1 and Dec. 29, the yield metric stood at 47.8%.
Michael Saylor, co-founder and executive chairman, hinted at the acquisition on Dec. 29, referencing “disconcerting” activity on the Saylor Tracker, a tool monitoring MicroStrategy’s Bitcoin transactions.
Saylor reiterated the company’s commitment to Bitcoin, even if its price reaches $1 million.
Plans for more purchases
MicroStrategy is seeking to increase authorized shares of its Class A common stock from 330 million to 10.33 billion and its preferred stock from 5 million to over 1 billion.
This move aims to facilitate further Bitcoin purchases.
Despite the aggressive buying streak, December purchases showed a slowdown compared to November, when the company acquired over 100,000 BTC.
