MicroStrategy, the leading corporate Bitcoin holder, has added another 15,400 BTC to its reserves, further solidifying its position as a pioneer in corporate BTC investments. The latest purchase amounted to approximately $1.5 billion worth of Bitcoin as BTC price edges closer to the psychological $100,000 milestone, rebounding above $97,000 today.
MicroStrategy’s Bitcoin Buy Spree Sees New Heights
According to the latest announcement, this acquisition was made at an average price of $95,976 per Bitcoin. Moreover, this purchase brings MicroStrategy’s total holdings to a staggering 402,100 BTC as of December 2, 2024.
The company also disclosed that its cumulative investment now stands at approximately $23.4 billion, with an average purchase price of $58,263 per Bitcoin. Despite the hefty sums, the company’s Bitcoin investment strategy continues to deliver strong returns.
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
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Furthermore, MicroStrategy reported a quarter-to-date (QTD) Bitcoin yield of 38.7% and a year-to-date (YTD) yield of 63.3%, reflecting the flagship crypto’s robust performance in 2024. The recent rally has been driven by growing institutional adoption, increased regulatory clarity, and optimism surrounding the upcoming Bitcoin halving in 2024.
What’s Next for BTC Price?
Michael Saylor, MicroStrategy’s executive chairman and Bitcoin advocate, reaffirmed the company’s commitment to its long-term BTC strategy as he revealed the update on X. The firm’s relentless accumulation of BTC underscores its unwavering confidence in its potential to serve as a hedge against inflation and an alternative to traditional financial systems.
Meanwhile, owing to the growing institutional influx from companies like MicroStrategy, MARA, Metaplanet, and others, analysts remain optimistic. They expect the BTC price to surge beyond the legendary $100,000 mark before the end of this year. Also, they expect HODLers, whales, and spot BTC ETF inflows to play a significant role in this rally.
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