MicroStrategy Buys Even More Bitcoin. Here's How Much It Owns Now. — Barrons.com
2024-12-16
Category: None

By Callum Keown
Who's buying Bitcoin at above $100,000? It's a question many investors may have asked in recent weeks. The answer is MicroStrategy, that's who.
The company's bold plan of buying the world's largest cryptocurrency shows no signs of slowing down, even amid Bitcoin's recent surge. The crypto climbed above $106,000 early Monday.
MicroStrategy bought 15,350 Bitcoins for around $1.5 billion last week, at an average price of $100,386, according to a filing Monday. That takes its total holdings to 439,000 Bitcoins at an aggregate purchase price of $27.1 billion. As of Monday's trading, its Bitcoin holdings were worth more than $45 billion.
The software company began buying the digital asset in 2020 as a hedge against inflation. It has since become the largest corporate holder of the cryptocurrency.
The company's shares have therefore become intrinsically linked to Bitcoin and the cryptocurrency's price movements. The stock has risen an impressive 548% so far this year coming into Monday's trading. Bitcoin has gained 148% in 2024.
The astronomical rise has earned MicroStrategy a place in the tech-heavy Nasdaq 100 starting next week. The stock rose 4.5% in premarket trading Monday after Bitcoin's latest surge higher.
Write to Callum Keown at callum.keown@dowjones.com
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