✨ Michael Saylor Doubles Down on Bitcoin Accumulation
posted 2 Dec 2024
MicroStrategy, the top corporate Bitcoin investor, continues to bolster its crypto reserves. Its latest acquisition of 15,400 BTC amounted to $1.5 billion, purchased at an average price of $95,976 per coin.
Michael Saylor, the CEO of MicroStrategy, took to his official X account to share the update.
According to an SEC filing, MicroStrategy raised $1.48 billion by selling shares to fund its recent Bitcoin purchase. This marks the fourth straight week of aggressive acquisitions.
Last week, the company acquired 55,500 BTC for $5.4 billion, following a $4.6 billion purchase the previous week. In September, Saylor announced an additional 4,720 BTC purchase worth $458.2 million.
MicroStrategy now holds 402,100 BTC, with a market valuation of approximately $38 billion.
The company’s "Bitcoin Yield," reflecting the relative value increase of its Bitcoin holdings per share, surged to 63% year-to-date as of December 2.
With over 1.7% of the total Bitcoin supply, MicroStrategy has secured a position among the top 100 largest publicly traded U.S. companies by market capitalization.
With these moves, MicroStrategy solidifies its belief in Bitcoin as a cornerstone of its long-term strategy for navigating the cryptocurrency market. The firm envisions Bitcoin as the future of digital gold and a key store of value.
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