MicroStrategy has continued its aggressive Bitcoin acquisition strategy, purchasing an additional 2,138 BTC for $209 million, bringing its total holdings to 446,400 BTC.
This purchase, made on December 29, marked the eighth consecutive week of Bitcoin purchases, further solidifying the company’s position as the largest Bitcoin holder among publicly traded companies.
Expanding Bitcoin Holdings
MicroStrategy’s Bitcoin purchases have attracted attention in the financial world, not just because of their volume but also because of the consistent strategy behind them.
The company reportedly funded this recent purchase through its ongoing at-the-market (ATM) program, which allows it to sell shares to raise funds. MicroStrategy reportedly still has $6.88 billion available under this program. After the additional 2,138 BTC, Michael Saylor, the Executive Chairman and Co-Founder of MicroStrategy, posted on X: “Disconcerting blue lines on SaylorTracker.com.”
Disconcerting blue lines on https://t.co/Bx3917zMqi. pic.twitter.com/xPl4GTKU3E
— Michael Saylor⚡️ (@saylor) December 29, 2024
The average purchase price for this latest batch ofBitcoin was $97,837, slightly increasing the company's overall average to $62,428 per BTC. MicroStrategy unveiled an ambitious “21/21 Plan this year, which aims to purchase an additional $42 billion worth of Bitcoin over the next three years.”
The plan includes raising $21 billion through equity sales and another $21 billion through fixed-income securities. In its latest filing, the company has sought shareholder approval to expand its equity issuance, enabling it to fund this ongoing Bitcoin purchasing spree.
This approval would allow MicroStrategy to increase its authorized shares for both Class A common stock and preferred stock. The proposed amendments would significantly raise the number of shares available for issuance, positioning the company to continue its Bitcoin-focused strategy without financial constraints.
MicroStrategy has acquired 5,262 BTC for ~$561 million at ~$106,662 per bitcoin and has achieved BTC Yield of 47.4% QTD and 73.7% YTD. As of 12/22/2024, we hodl 444,262 $BTC acquired for ~$27.7 billion at ~$62,257 per bitcoin. $MSTR https://t.co/asDGerBV7q
— Michael Saylor⚡️ (@saylor) December 23, 2024
21/21 Plan
MicroStrategy’s 21/21 Plan has already seen remarkable progress. In December alone, the company purchased more Bitcoins than in most prior months, totaling 42,162 BTC, valued at over $4 billion at current prices.
As of December 22, MicroStrategy and its subsidiaries held approximately 444,262 BTC, valued at around $43.5 billion. This stash was acquired at an average price of $62,257 per BTC, meaning the company's Bitcoin holdings have already appreciated significantly. The company also outlined its goal to generate an annual yield of 6% to 10% from its Bitcoin assets between 2025 and 2027.
This article was written by Jared Kirui at www.financemagnates.com.
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