MicroStrategy, a business intelligence firm, has made headlines with its recent purchase of 2,138 Bitcoin for $209 million, bringing its total holdings to an impressive 446,400 BTC. This marks the company’s eighth consecutive week of Bitcoin buying. CEO Michael Saylor remains bullish on Bitcoin, even predicting he will continue purchasing it regardless of price increases. With a year-to-date yield of 74.1% on its Bitcoin investments, MicroStrategy showcases strong performance in the cryptocurrency Market. While its stock price has fluctuated, the company’s strategic acquisitions signal ongoing confidence in Bitcoin’s future, coinciding with increasing institutional interest in digital assets. As Bitcoin trades around $91,779, the landscape for cryptocurrency adoption looks promising for 2024.
MicroStrategy Extends Bitcoin Buying Streak, Ending 2024 on a High Note
MicroStrategy, the prominent business intelligence firm, has continued its aggressive acquisition of Bitcoin. Recently, the company added 2,138 BTC to its stash, spending a staggering $209 million. With this latest purchase, MicroStrategy’s total Bitcoin holdings have reached an impressive 446,400 BTC.
In an official announcement, the company revealed that it made this latest purchase between December 23 and December 29, acquiring BTC at an average price of $97,837 each. To fund this move, MicroStrategy sold 592,987 of its shares last week. Notably, this marks the eighth week in a row that the firm has been purchasing Bitcoin.
CEO Michael Saylor hinted at this latest purchase before the announcement. He shared a chart dubbed the “Saylor Tracker,” which visually represents the company’s Bitcoin purchases, and suggested that there were key indicators pointing toward another acquisition.
MicroStrategy’s Bitcoin yield, a measure of its investment performance, has also seen remarkable growth. As of December 30, the company reported a year-to-date yield of 74.1%, with a quarterly yield of 47.8%, showcasing its strong position in the cryptocurrency Market.
Despite the substantial acquisition, MicroStrategy’s stock experienced a dip of 5.19% on the day. However, the stock has soared by an incredible 395% year-to-date, outpacing both Bitcoin and the S&P 500 in growth.
Saylor, known for his enthusiastic support of Bitcoin, has expressed his intention to keep investing in Bitcoin indefinitely, stating he would continue buying even if the price reaches $1 million per coin. He famously advised investors to “dump their gold” in favor of Bitcoin, promoting it as a far superior asset.
2024 has proven to be a significant year for Bitcoin, particularly regarding institutional adoption. The SEC’s approval of spot Bitcoin exchange-traded funds (ETFs) in January has paved the way for more institutional investors to gain easy access to BTC. Additionally, a recent survey indicated that 72% of institutional investors are now willing to invest in digital assets, further solidifying Bitcoin’s appeal.
As of now, Bitcoin is trading at approximately $91,779, reflecting a slight decline of 3.2% over the past 24 hours. MicroStrategy’s unwavering commitment to Bitcoin reaffirms its status as a leading player in the cryptocurrency landscape.
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Secondary keywords: BTC holdings, Bitcoin yield, institutional adoption.
What is MicroStrategy’s latest Bitcoin purchase?
MicroStrategy recently bought 2,138 Bitcoin. This is a part of their ongoing strategy to invest in Bitcoin and hold it as a key asset.
Why does MicroStrategy keep buying Bitcoin?
MicroStrategy believes in the long-term value of Bitcoin. The company thinks it can be a good hedge against inflation and a strong store of value.
How much Bitcoin does MicroStrategy own in total?
With the latest purchase, MicroStrategy now holds around 152,333 Bitcoin. This makes them one of the largest corporate holders of Bitcoin in the world.
What does this mean for Bitcoin’s value?
More companies buying Bitcoin can show growing interest in the asset, which may help increase its price. It also indicates that Bitcoin is being seen as a serious investment option.
Is MicroStrategy the only company buying Bitcoin?
No, other companies are also investing in Bitcoin. Firms like Tesla and Square have made significant Bitcoin purchases, but MicroStrategy is currently one of the most aggressive investors.
