cryptojournalist
MicroStrategy isn’t slowing down on Bitcoin. Between Dec. 23 and Dec. 29, the company scooped up 2,138 BTC for $209 million, paying about $97,837 per coin. This brings their total stash to 446,400 BTC, now worth $41.5 billion. They paid for this latest buy by selling nearly 593,000 shares during the same week.
Big Returns on Bitcoin
As of Dec. 30, MicroStrategy’s Bitcoin investments are up 74.1% for 2024. The fourth quarter alone saw a 47.8% return, showing how well their strategy is paying off.
Saylor Drops Hints
Michael Saylor, the company’s co-founder, teased this purchase on Dec. 29, pointing to some “interesting” activity on the Saylor Tracker, a tool that follows their Bitcoin buys. Saylor has said they’ll keep buying Bitcoin no matter the price—even if it hits $1 million.
Weekly Buying Spree
This marks eight straight weeks of Bitcoin buys for MicroStrategy. Since late October, they’ve added 194,180 BTC to their holdings. That said, December’s purchases were smaller compared to November, when they bought over 100,000 BTC.
Plans to Raise Funds for More Bitcoin
MicroStrategy has big plans to fund future Bitcoin purchases. In a Dec. 23 SEC filing, the company proposed increasing its authorized shares—Class A common stock from 330 million to 10.33 billion and preferred stock from 5 million to over 1 billion. This would give them more room to issue shares when needed.
