MicroStrategy, a prominent corporate investor in Bitcoin, has announced the addition of 15,350 BTC to its reserves. The company disclosed on December 16 that the acquisition cost approximately $1.5 billion in cash.
According to the announcement, the Bitcoin purchase took place between December 9 and December 15. MicroStrategy utilized funds raised through the sale of shares under a convertible notes agreement, securing the new Bitcoin at an average price of $100,386 per BTC.
This latest acquisition brings the company’s total Bitcoin holdings, including those of its subsidiaries, to a staggering 439,000 BTC. These holdings are valued at $45.6 billion based on current market prices, with an average purchase price of $61,725 per Bitcoin.
Significant Year-to-Date Performance
Michael Saylor, MicroStrategy’s founder and executive chairman, emphasized the strong performance of Bitcoin in the company’s portfolio. He highlighted a 46.4% quarter-to-date return and an impressive 72.4% return year-to-date.
This purchase follows closely on the heels of a December 9 announcement that MicroStrategy had added 21,550 BTC to its reserves. Saylor reiterated his long-term commitment to Bitcoin, expressing confidence in its value even at higher price levels.
“I’m confident that we’ll be acquiring Bitcoin at $1 million per coin someday,” Saylor stated during an interview with Yahoo Finance, adding that the company may invest as much as $1 billion a day in Bitcoin when it reaches that milestone.
MicroStrategy Set to Join the Nasdaq-100 Index
MicroStrategy’s aggressive Bitcoin strategy aligns with its rising stock performance, which has surged 490% this year, according to TradingView.
On December 14, Nasdaq announced that MicroStrategy would be added to the Nasdaq-100 Index, a benchmark tracking the largest non-financial companies on the exchange. The inclusion is set to take effect before the market opens on December 23.
Following the announcement, MicroStrategy shares saw a 3% uptick in premarket trading, reflecting investor optimism about the company’s continued growth.
As of now, MicroStrategy’s stock is trading at $408.70 in premarket activity, according to TradingView data. Meanwhile, Bitcoin’s price stands at $103,941, showing a 1.3% increase over the past 24 hours, as reported by CoinGecko.
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