MicroStrategy expands Bitcoin holdings with 15,400 BTC purchase at $95,976 per coin, reaching 402,100 BTC total. Company achieves 38.7% BTC yield QTD and 63.3% YTD as institutional adoption grows.
By Temitope Olatunji
Edited by Marco T. Lanz
Updated
3 mins read
Software company MicroStrategy, led by Michael Saylor, has continued its Bitcoin
BTC
$104 780
24h volatility:
0.7%
Market cap:
$2.08 T
Vol. 24h:
$42.11 B
buying spree with another major acquisition. The company, which stands as the largest corporate holder of Bitcoin, revealed on Monday, December 2, that it had purchased 15,400 BTC at an average price of $95,976.
MicroStrategy has acquired 15,400 BTC for ~$1.5 billion at ~$95,976 per #bitcoin and has achieved BTC Yield of 38.7% QTD and 63.3% YTD. As of 12/2/2024, we hodl 402,100 $BTC acquired for ~$23.4 billion at ~$58,263 per bitcoin. $MSTR https://t.co/K3TK4msGp0
— Michael Saylor⚡️ (@saylor) December 2, 2024
The BTC accumulation by MicroStrategy has further increased its bitcoin holdings, as it now has a total of 402,100 BTC, which is currently valued at around $38 billion. These BTC were acquired for $23.4 billion at $58,263 per bitcoin.
Based on the Form 8-K filing with the SEC, MicroStrategy revealed that it purchased the bitcoin between November 25 and December 1, at a cost of $1.5 billion in cash. The purchase was funded through proceeds obtained from issuing and selling company shares.
On October 30, 2024, MicroStrategy made a deal to sell shares over time, raising up to $41 billion. Between November 25 and December 1, 2024, it sold 3.7 million shares for $1.48 billion after fees, using the funds to buy more Bitcoin.
This latest acquisition marks the fourth consecutive week of Bitcoin purchases by MicroStrategy. Last week, the firm bought 55,500 BTC for around $5.4 billion at an average of $97,862 per BTC; the week before, it spent around $4.6 billion to purchase the digital currency.
Based on the filing, the MicroStrategy Bitcoin Yield reached 38.7% between October 1 and December 1, 2024. However, in the longer timeframe, from January 1 to December 1, 2024, the company’s Bitcoin yield was even higher, reaching 63.3%. The filing revealed:
“From October 1, 2024 to December 1, 2024, the Company’s BTC Yield was 38.7%. From January 1, 2024 to December 1, 2024, the Company’s BTC Yield was 63.3%.”
Reacting to this, crypto commentator MDB, who has more than twenty thousand followers, stated that the purchase demonstrates Bitcoin’s unique nature, as it enables companies to compete with nations while allowing individuals to challenge corporations, marking the start of a new era.
Bitcoin reached an all-time high of $99,655 on November 22, fueling speculation about reaching the highly anticipated $100,000 mark in the near future. The ongoing accumulation by MicroStrategy, combined with Bitcoin’s price appreciation, could encourage larger financial institutions to enter the crypto market, potentially driving BTC prices higher.
Moreover, if a more favorable administration takes office in the United States and eases crypto regulations, it could encourage more countries to embrace cryptocurrency. This could create a Ripple Effect, causing the prices of many cryptocurrencies to rise.
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Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.