MicroStrategy Announces First Bitcoin Purchase With BTC Prices Above $100K
2024-12-16
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Michael Saylor, MicroStrategy’s BTC champion, has announced another massive bitcoin purchase from the company he co-founded, which is actually the first with the asset’s price above $100,000.
Interestingly, Peter Schiff was quick to intercept the announcement with another criticism against Saylor, his company, and BTC.
MicroStrategy has acquired 15,350 BTC for ~$1.5 billion at ~$100,386 per #bitcoin and has achieved BTC Yield of 46.4% QTD and 72.4% YTD. As of 12/15/2024, we hodl 439,000 $BTC acquired for ~$27.1 billion at ~$61,725 per bitcoin. $MSTR https://t.co/SaWLNBVkrl
— Michael Saylor (@saylor) December 16, 2024
As Saylor’s post reads, the NASDAQ-listed giant spent roughly $1.5 billion to acquire 15,350 BTC at an average price of $103,386. The firm’s total stash has grown to 439,000 BTC, valued at well above $44 billion at current prices, while it spent $27.1 billion to acquire it.
MicroStrategy’s BTC yield has grown to 46.4% in the past quarter alone, with the number standing above 72% for the entire year.
Thus, the company has continued a recenttraditionthat started several weeks ago: announcing massive purchases worth over $1 billion on Monday.
Another thing that didn’t change this week is the vocal criticism of well-known bitcoin hater – Peter Schiff. The gold bug commented under Saylor’s post that BTC’s price will plunge once the firm stops buying.
“Just as I suspected. Imagine how much lower the Bitcoin price will fall when you stop buying. Then imagine how much lower it will go when creditors force you to sell.”