MicroStrategy Buys Additional 2,130 Bitcoin as Crypto Stash Reaches 446,400 BTC
2024-12-30
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Nasdaq-listed business intelligence firm MicroStrategy has announced it acquired an additional 2,138 bitcoin for around $209 million, at an average price of $97.837 BTC as the company keeps accumulating the cryptocurrency.
In a post on the microblogging platform X, the company’s co-founder and chairman, Michael Saylor, revealed that the firm has achieved a BTC Yield of 47.8% so far this quarter, and 74.1% year-to-date, and now holds 446,400 BTC that were acquired for $27.9 billion.
The company has acquired its BTC at an average of $62,428 per coin, and its entire BTC stash is now worth $40,89 billion.
The move came after earlier this month MicroStrategy revealed its plans on issuing additional shares, which could be used to further its BTC purchases. The firm’s planned share issuance, which was disclosed in a Dec. 23 filing with the U.S. Securities and Exchange Commission (SEC), was widely interpreted as a bullish sign for BTC.
The Nasdaq-listed business intelligence firm’s total BTC holdings surpassed 400,000 BTC earlier this month after it invested $1.5 billion into the flagship cryptocurrency. The company’s BTC accumulation strategy has inspired other companies to follow suit.
One such company is Marathon Digital Holdings, a cryptocurrency miner that has accumulated 44,394 BTC worth around $4.1 billion, making it the second-largest corporate holder of the cryptocurrency.
Various other Bitcoin miners and even electric car market Tesla have added BTC to their balance sheets over time to the point that, according to BitcoinTreasuries data, a total of 587,470 BTC are now held by publicly traded companies. These coins are worth an estimated $54.9 billion and represent 2.8% of the cryptocurrency’s supply.
Featured image via Unsplash.