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What will be the value of MicroStrategy's Bitcoin holdings by December 31, 2024?
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Publicly available data on Bitcoin price and MicroStrategy's Bitcoin holdings
Story
MicroStrategy Enters Top 100 as Stock Surges on $2.6B Zero-Interest Bond and 331,200 BTC Holdings
Nov 20, 2024, 02:17 PM
MicroStrategy accelerated its Bitcoin purchases in 2024, acquiring 331,200 BTC at an average price of $88,627 per coin, becoming the largest institutional holder of the digital asset. To fund these acquisitions, the company raised $2.6 billion through a zero-percent convertible bond offering due 2029 with a 55% conversion premium, up from the initial offering of $1.75 billion due to high demand. This aggressive Bitcoin acquisition strategy has led to MicroStrategy's stock price surging over 600% year-to-date and 27 times over the past two years, reaching over $500 per share, and its market capitalization exceeding $100 billion, making it one of the top 100 US publicly traded companies. MicroStrategy is now the most traded stock in the US, surpassing Tesla and Nvidia in trading volume. The company's market cap is trading at approximately three times the value of its Bitcoin holdings, which now total around $30 billion, representing about 1.7% of the circulating supply.
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