MicroStrategy Continues Bitcoin Buying Spree, Adds $561 Million Worth of BTC
2024-12-24
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Nasdaq-listed business intelligence firm MicroStrategy has announced the acquisition of an additional 5,262 bitcoin at an average price of $106,662 per BTC, with the purchase costing the firm around $561 million in total.
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 47.4% so far this quarter, and 73.7% year-to-date, and now holds 444,262 BTC that were acquired for $27.7 billion.
The company has acquired its BTC at an average of $62,351 per coin, and its entire BTC stash is now worth $41.72 billion.
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.