MicroStrategy, a well-known corporate Bitcoin investor, made a big investment, purchasing an additional 15,400 Bitcoin for $1.5 billion between November 25 and December 1, 2024. Revenues from the sale of shares under its at-the-market (ATM) equity program supported this recent acquisition, increasing the company’s total Bitcoin holdings to 402,100 BTC. The recent Bitcoin buy had an average price of $95,976 per coin.
MicroStrategy’s Bitcoin assets are estimated to be worth $38.4 billion as of December 1, 2024, depending on the current market price of Bitcoin. The corporation has spent a total of $23.4 billion on Bitcoin assets, with a 64% gain in value from the original purchases. MicroStrategy’s Bitcoin strategy has led to the company’s emergence as the largest corporate Bitcoin holder, holding approximately 2% of the total Bitcoin mined.
In addition to the Bitcoin purchase, MicroStrategy’s executive chairman, Michael Saylor, has publicly promoted Bitcoin’s potential as a treasury asset. Saylor recently addressed Microsoft’s board of directors, pushing the company to pursue a similar strategy. He contended that Microsoft’s present financial strategy, which includes dividends and stock buybacks, has resulted in the loss of substantial wealth that could have been better invested in Bitcoin. According to Saylor, investing in Bitcoin would boost Microsoft’s market performance and safeguard it from economic uncertainties.
The company’s continuous Bitcoin investments demonstrate Saylor’s strong trust in Bitcoin’s potential as a revolutionary asset. As MicroStrategy’s Bitcoin holdings expand, the company remains committed to capitalizing on its position as a key participant in the cryptocurrency market.
