MicroStrategy Buys 2,138 Bitcoins for $209 Million, Marking 8th Consecutive Week of Purchases

Dec 30, 2024, 02:56 PM

MicroStrategy Inc. has continued its aggressive acquisition of Bitcoin, purchasing an additional 2,138 BTC for approximately $209 million at an average price of $97,837 per bitcoin between December 23 and December 29, 2024. This latest purchase marks the eighth consecutive week of Bitcoin acquisitions for the company, bringing its total holdings to 446,400 BTC, acquired at an average price of $62,428 per bitcoin. The company's Bitcoin treasury strategy has been funded through share sales, with MicroStrategy reporting the sale of 592,987 shares during the same period for net proceeds of about $209 million. MicroStrategy's market capitalization has surpassed $80 billion, and it recently joined the Nasdaq 100 Index. The company aims to raise $42 billion over the next three years to further its Bitcoin investment strategy. MicroStrategy has achieved a Bitcoin yield of 47.8% for the quarter to date and 74.1% for the year to date.