MicroStrategy Acquires 21,550 Bitcoin for $2.1B, Claims 2% of Total Supply

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As a seasoned analyst with over two decades of experience in the financial markets, I find MicroStrategy’s Bitcoin accumulation spree nothing short of intriguing and audacious. Having witnessed the rise and fall of several market trends, I can confidently say that this move is a game-changer for institutional investment into cryptocurrencies.

Continuing its Bitcoin buying streak, American software development company MicroStrategy Inc (NASDAQ: MSTR), led by Chairman Michael Saylor, just bought another 21,550 Bitcoins, which translates to approximately $2.1 billion in value.

MicroStrategy Continues BTC Purchase Streak

To note, MicroStrategy has made its fifth straight weekly purchase of Bitcoin, showing their ongoing dedication to the foremost digital currency. According to a recent announcement, they acquired 21,550 Bitcoins at around $98,783 each.

MicroStrategy has purchased approximately 21,550 Bitcoins for roughly $2.1 billion, with each Bitcoin costing around $98,783. This move has resulted in a Quarter-to-Date (QTD) yield of 43.2% and Year-to-Date (YTD) yield of 68.7%. As of December 8, 2024, we hold approximately 423,650 Bitcoins that were purchased for around $25.6 billion, with each Bitcoin costing about $60,324. $MSTR

— Michael Saylor⚡️ (@saylor) December 9, 2024

This purchase has pushed the company’s BTC Yield to 43.2% Quarter-to-Date (QTD) and 68.7% Year-to-Date (YTD). As a result, MicroStrategy’s Bitcoin holdings now stand at 423,650 BTC, acquired for $25.6 billion at an average price of $60,324 per coin. With its latest purchase, the business owns over 2% of Bitcoin’s total supply.

As a crypto investor, I learned that between December 2nd and 8th, the software company made a significant purchase. Coinspeaker revealed that they announced the acquisition of approximately 15,400 Bitcoins on December 2nd for roughly $1.5 billion. MicroStrategy’s strategic vision is to hold onto its Bitcoin for the long term and aims to become the biggest BTC bank. This ambition aligns with the intentions of institutional investors seeking diversification into cryptocurrency.

According to a confident forecast by Bernstein’s analyst, it’s possible that MicroStrategy could control around 4% of all available Bitcoins within the next decade. Analyst Gautam Chhugani emphasized that this tech company is on a relentless mission to draw billions from worldwide investors towards Bitcoin investment.

MicroStrategy Set the Bitcoin Pace for Corporations

In the meantime, the corporation has attracted global investors from even the European central banks. The triumph of MicroStrategy has motivated numerous companies globally to adopt Bitcoin as a strategic reserve asset, following in its footsteps.

One of the latest companies, Worksport – known as a leader in renewable energy – has revealed its intention to buy Bitcoins for its corporate funds. In November, Rumble Inc, a rapidly expanding video-sharing platform and cloud services provider (traded on NASDAQ under the symbol RUM), made a bold step towards Bitcoin adoption.

Initially, the company declared their intention to buy approximately 20 million dollars’ worth of Bitcoin, contingent upon market conditions. Following this declaration, five days later, the price of RUM surged by more than 28%, reaching around 7.6 dollars.

In addition to these companies, Bitcoin miner MARA Holdings Inc (NASDAQ: MARA) has announced intentions to acquire more Bitcoins. MARA intends to utilize the funds from its $700 million private offering of 0% convertible senior notes, maturing in 2031, for Bitcoin purchases.

Currently, the National Center for Public Policy Research (NCPPR) has suggested to Amazon that they consider investing at least 5% of their financial reserves into Bitcoin. This is a proposal put forth by the research foundation.

Concurrently, Microsoft could potentially create history as it puts its Bitcoin adoption proposal up for a vote among its shareholders this week.

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2024-12-09 19:42