MicroStrategy Increases Bitcoin Holdings

Date: December 8, 2024
Source: Investing.com

MicroStrategy Inc. revealed on Monday that it has increased its Bitcoin holdings, acquiring approximately 21,550 Bitcoins for $2.1 billion between December 2 and December 8, 2024.

The average purchase price was around $98,783 per bitcoin, including fees and expenses.

The latest Bitcoin acquisitions were funded through proceeds from the sale of 5.42 million shares of class A common stock under its Sales Agreement, which generated $2.13 billion.

MicroStrategy has purchased Bitcoin for five consecutive Mondays. The company’s shares are up around 470% this year.

As of December 8, MicroStrategy said it holds 423,650 bitcoins, valued at an aggregate purchase price of $25.6 billion, with an average cost of $60,324 per bitcoin.

The company highlighted its BTC Yield, a key performance indicator reflecting the percentage change in the ratio of Bitcoin holdings to assumed diluted shares outstanding. MicroStrategy’s BTC Yield was 43.2% for Q4 2024 and 68.7% for the year.