MicroStrategy Continues Bitcoin Buying Spree with $209M BTC Added

MicroStrategy has bolstered its Bitcoin portfolio with another acquisition, bringing its total holdings to 446,400 BTC. This marks the eighth consecutive purchase over the past two months.

MicroStrategy’s Bitcoin Saga Intensifies

The latest purchase involved 2,138 BTC, acquired for $209 million, translating to an average cost of $97,837 per coin, according to a company press release. MicroStrategy’s quarter-to-date Bitcoin yield now stands at 47.8%, while the year-to-date yield has reached 74.1%.

The company’s cumulative investment in Bitcoin has reached $27.9 billion, with an average acquisition price of $62,428 per BTC. Last week, MicroStrategy added 5,262 BTC to its reserves at a cost of $516 million, continuing a buying spree that began in early November.

Furthermore, the company remains the largest Bitcoin-holding public company. Reports suggest the firm is planning a shareholder meeting to discuss additional purchases.

MicroStrategy has acquired 2,138 BTC for ~$209 million at ~$97,837 per bitcoin and has achieved BTC Yield of 47.8% QTD and 74.1% YTD. As of 12/29/2024, we hodl 446,400 $BTC acquired for ~$27.9 billion at ~$62,428 per bitcoin. $MSTR https://t.co/58aXM7g6u2

— Michael Saylor⚡️ (@saylor) December 30, 2024

Despite the aggressive accumulation of Bitcoin, MicroStrategy’s stock price has not responded positively to the recent announcement. Data from Nasdaq indicates that MSTR shares have fallen by more than 7%, trading at approximately 305.69 on Monday, December 30.

Nonetheless, on a year-to-date basis, the stock has seen significant growth, increasing over 346%, partly attributed to the company’s substantial Bitcoin exposure. Moreover, Michael Saylor, the Executive Chairman of MicroStrategy, has reinforced his bullish outlook on BTC. Also, he has vowed to keep purchasing Bitcoin as the company’s 21-21 policy recently came into effect.

With BTC price holding fairly above the $90,000 mark, Saylor also expects it to hit a new all-time high after the remarkable rally to the $108,000 mark earlier this month. Analysts have provided targets as high as $250,000 for Bitcoin price in 2025.

Also Read: Bitcoin (BTC) Slips Below $92,000 Amid High Liquidation