MicroStrategy Increases Bitcoin Holdings by 15,400 BTC for $1.5 Billion
Date: 2024-12-03 Author: Oliver Abernathy Categories: BUSINESS
According to a report filed with the U.S. Securities and Exchange Commission, the new coins were purchased for $1.5 billion at an average price of $95,976 per Bitcoin. The company’s return for the last quarter was 38.7%, and for the year — 63.3%.
MicroStrategy’s total Bitcoin holdings currently stand at 402,100 BTC, equivalent to $23.4 billion at an average price of $58,263 per coin. The latest purchase was funded by selling 3.7 million shares of the company on the stock market.
At the time of writing, the company's shares (ticker MSTR) are trading at $390 in the premarket, and the total market capitalization is $87.05 billion.
In 2024, the value of MicroStrategy shares has grown by 650.2%, which is five times higher than the growth of Bitcoin over the same period, which amounted to 123.1%. Moreover, in terms of growth dynamics, MicroStrategy has outpaced the S&P 500 index and even such tech giants as Nvidia.
Earlier, Michael Saylor presented to the Microsoft board of directors a strategy that, according to him, can increase the company's capitalization by $5 trillion through the use of Bitcoin.
