Business intelligence firm and prominent Bitcoin investor MicroStrategy has announced its latest acquisition of 2,138 Bitcoin, valued at $209 million. This purchase brings the company’s total Bitcoin holdings to an impressive 446,400 BTC, worth approximately $41.5 billion at current market prices. The acquisition marks the eighth consecutive week of Bitcoin purchases by the company.
The firm disclosed on December 30 that it acquired the cryptocurrency between December 23 and December 29, at an average price of $97,837 per BTC. According to filings, MicroStrategy funded the acquisition by selling 592,987 shares during the same week.
74% Year-to-Date Bitcoin Yield
MicroStrategy’s investment strategy has paid off, with its Bitcoin yield reaching 74.1% year-to-date as of December 30. From October 1 to December 29 alone, the yield stood at 47.8%. This performance metric reflects the company’s continued commitment to its Bitcoin strategy, which has been spearheaded by co-founder and executive chairman Michael Saylor.
Source: Michael Saylor
Saylor hinted at the purchase on December 29, pointing to “disconcerting” lines on the Saylor Tracker, a data tool dedicated to monitoring MicroStrategy’s Bitcoin acquisitions. Previously, Saylor affirmed the company’s unwavering commitment to Bitcoin, stating they would continue to buy the cryptocurrency regardless of its price, even if it reaches $1 million per coin.
Regular Purchases Since October
Since October 31, MicroStrategy has consistently bought Bitcoin on a weekly basis, adding 194,180 BTC to its holdings during this period. However, the volume of Bitcoin acquired has significantly decreased compared to November, when the company purchased over 100,000 BTC.
Plans to Issue More Shares
In a filing dated December 23 with the United States Securities and Exchange Commission (SEC), MicroStrategy announced plans to increase its authorized share count for Class A common stock and preferred stock. The proposed changes would raise the number of authorised Class A common stock from 330 million shares to 10.33 billion shares, and preferred stock from five million to more than one billion shares. This move would provide the company with greater flexibility to issue additional shares as needed to fund future Bitcoin purchases.
Commitment to Bitcoin Investment
MicroStrategy’s latest move highlights its aggressive approach to Bitcoin investment, positioning itself as one of the largest corporate holders of the cryptocurrency. Despite fluctuations in Bitcoin’s market price, the company remains steadfast in its strategy, aiming to solidify its position as a leading proponent of digital assets.
