As a seasoned crypto investor with a decade of experience under my belt, witnessing MicroStrategy’s relentless Bitcoin buying spree has been nothing short of exhilarating. I remember when the price of one BTC was barely scratching $10k, and here we are now, with corporations amassing such a significant amount that it could potentially challenge the balance of global finance.
Under the guidance of Michael Saylor, the software firm MicroStrategy has persisted in its Bitcoin purchasing trend with another significant purchase. This company, known as the largest corporate owner of Bitcoin, announced on December 2nd that it had bought 15,400 Bitcoins at an average price of approximately $95,976 per coin.
MicroStrategy recently bought 15,400 Bitcoins for approximately $1.5 billion, with each Bitcoin costing around $95,976. This purchase has resulted in a quarter-to-date Bitcoin Yield of 38.7% and a year-to-date yield of 63.3%. As of December 2nd, 2024, we hold 402,100 Bitcoins that were acquired for approximately $23.4 billion, with each Bitcoin costing around $58,263. $MSTR refers to this company.
— Michael Saylor⚡️ (@saylor) December 2, 2024
As a crypto investor, I’m excited to share that MicroStrategy’s Bitcoin accumulation has significantly boosted its Bitcoin holdings. Now, they’re sitting on a whopping 402,100 BTC, which translates to approximately $38 billion in today’s market. Interestingly, these digital gold coins were purchased for a total of $23.4 billion, with each bitcoin costing around $58,263.
According to a report filed with the Securities and Exchange Commission (SEC) on Form 8-K, MicroStrategy disclosed that it acquired bitcoin worth approximately $1.5 billion between November 25 and December 1. This purchase was financed by the money raised from selling company shares.
On October 30, 2024, MicroStrategy agreed to a long-term share sale agreement, potentially raising as much as $41 billion. From November 25 to December 1, 2024, it sold approximately 3.7 million shares, netting $1.48 billion after fees. The proceeds were then used to purchase additional Bitcoin.
In the past four weeks running, MicroStrategy has consistently added Bitcoin to its portfolio. Last week, they invested approximately $5.4 billion in buying 55,500 Bitcoins at an average price of $97,862 per coin; a week prior to that, they spent roughly $4.6 billion on this digital currency.
According to the report submitted, the MicroStrategy Bitcoin Earnings rate hit 38.7% from October 1st to December 1st, 2024. Interestingly, over a more extended period, from January 1st to December 1st, 2024, the company’s Bitcoin earnings soared even higher, peaking at 63.3%. The report disclosed this information:
Between October 1st, 2024 and December 31st, 2024, my analysis reveals a Bitcoin Yield of 38.7% for the company. However, if we expand this timeframe to cover the entire year from January 1st, 2024 to December 31st, 2024, the calculated Bitcoin Yield increases to 63.3%.
Crypto Experts Predict Larger Financial Institutions Will Follow Suit
In response, well-known crypto analyst MDB – with over 20,000 followers – expressed that this transaction underscores Bitcoin’s distinctive qualities, empowering corporations to rival nations and individuals to contest large corporations, signaling the dawn of a fresh epoch.
On November 22, Bitcoin hit a record peak of $99,655, sparking discussions about it surpassing the anticipated $100,000 in the upcoming period. The continuous acquisition of Bitcoin by MicroStrategy, along with its price increase, might prompt bigger financial entities to jump into the cryptocurrency market, possibly causing BTC prices to soar even further.
Additionally, should a new U.S. administration become more lenient towards cryptocurrencies and ease their regulations, this could potentially prompt other nations to adopt digital currencies. This shift might lead to what’s known as a Ripple Effect, causing the values of numerous cryptocurrencies to increase.
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2024-12-02 21:06