The company announced its latest Bitcoin purchase on Monday.
MicroStrategy has acquired 15,400 BTC for ~$1.5 billion at ~$95,976 per #bitcoin and has achieved BTC Yield of 38.7% QTD and 63.3% YTD. As of 12/2/2024, we hodl 402,100 $BTC acquired for ~$23.4 billion at ~$58,263 per bitcoin. $MSTR https://t.co/K3TK4msGp0
— Michael Saylor⚡️ (@saylor) December 2, 2024
Led by Chairman Michael Saylor, MicroStrategy now holds 402,100 Bitcoin with a total investment of US$23.4 billion. Today, that investment is worth approximately US$38.7 billion.
The company’s overall average Bitcoin purchase price is US$58,263.
The purchase triggered a more than 2% price increase at Wall Street’s opening, suggesting a potential shift in market dynamics. Analysts noted that such massive acquisitions typically drive price appreciation due to market absorption challenges.
The announcement came shortly after Saylor gave a three-minute pitch to Microsoft’s board, urging them to integrate Bitcoin into the tech giant’s balance sheet. Major Microsoft shareholders like Vanguard, BlackRock, and Fidelity already have crypto sector exposure.
Bitcoin currently consolidates around US$96,000, with technical indicators suggesting potential for further growth. Analysts increasingly view the US$100,000 milestone as a matter of “when” rather than “if”, driven by growing institutional interest and potential corporate adoption.
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