Crypto
MicroStrategy acquired an additional 21,550 Bitcoin for approximately $2.1 billion in cash between Dec. 2 and Dec. 8, executive chairman Michael Saylor confirmed.
This latest purchase increased MicroStrategy’s total Bitcoin (BTC) holdings to 423,650 tokens, valued at roughly $41 billion. The acquisition marks the company’s fifth consecutive weekly buy, as reported by Dec. 9
According to Saylor, MicroStrategy has spent an estimated $25.6 billion on BTC at an average price of $60,324 per coin. Bitwise Europe data indicates that the company’s Bitcoin purchases have accelerated significantly in 2024.
MicroStrategy has acquired 21,550 BTC for ~$2.1 billion at ~$98,783 per #bitcoin and has achieved BTC Yield of 43.2% QTD and 68.7% YTD. As of 12/8/2024, we hodl 423,650 $BTC acquired for ~$25.6 billion at ~$60,324 per bitcoin. $MSTR https://t.co/8r7bFqMFof
— Michael Saylor
(@saylor) December 9, 2024
Saylor’s aggressive Bitcoin strategy, initiated in 2020, has generated around $16 billion in unrealized profits, with BTC trading above $98,900 as of Dec. 9
This $2.1 billion injection was a fraction of Saylor’s larger plan to scoop $42 billion worth of Bitcoin. MicroStrategy’s founder intends to execute this roadmap by 2027/2028. Riding on a multi-year BTC corporate euphoria, Saylor pushed other giants to adopt the Bitcoin standard. He pitched BTC to the Board of Directors at Microsoft, a $3 trillion heavyweight.
Crypto-native founders like Coinbase CEO Brian Armstrong and former Binance Changpeng Zhao encouraged governments and other titans to acquire Bitcoin. Armstrong advised sovereign nations to flock toward the leading digital asset as an inflation hedge, while Zhao suggested Amazon add BTC to its balance sheet and payment methods amid shareholder requests.
