Originally published on: December 16, 2024
MicroStrategy, a prominent player in the corporate Bitcoin arena, has bolstered its reserves by acquiring 15,350 BTC, splurging around $1.5 billion in cash, as per the company’s announcement on December 16.
In a buying spree that spanned from December 9 to 15, MicroStrategy added the fresh batch of Bitcoin to its coffers at an average price of $100,386 per BTC. The funds for this latest purchase were sourced from the issuance and sale of shares under a convertible notes sales agreement.
This move propels the total Bitcoin stash of MicroStrategy and its subsidiaries to 439,000 BTC, valued at $45.6 billion, procured at an aggregate purchase price of $27.1 billion, translating to an average price of $61,725 per BTC.
Founder of MicroStrategy, Michael Saylor, singled out the stellar Bitcoin performance of the company, citing a 46.4% yield quarter-to-date and an impressive 72.4% yield year-to-date.
This recent acquisition of Bitcoin by MicroStrategy aligns with Saylor’s earlier statement of continuing to amass Bitcoin even above $100,000, as evidenced by another substantial purchase of 21,550 Bitcoin made on December 9.
Amid a surging share price that has surged 490% year-to-date, MicroStrategy was elated by the news that Nasdaq would be including MicroStrategy stock in the Nasdaq-100 Index, which monitors the performance of the 100 largest non-financial companies on the Nasdaq stock exchange.
As anticipation builds for MicroStrategy’s inclusion in the index before the market opens on December 23, the company’s stock price experienced a 3% uptick in premarket trading, reaching $408.70, according to data from TradingView. CoinGecko data revealed Bitcoin trading at $103,941, marking a 1.3% increase over the past 24 hours.
With MicroStrategy’s bullish stance on Bitcoin purchases and its impending inclusion in the Nasdaq-100 Index, the company’s trajectory is poised for further growth and dominance in the digital asset landscape.
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