MicroStrategy Increases Bitcoin Holdings by $561 Million and Joins Nasdaq-100 Index
MicroStrategy, a software company known for its Bitcoin acquisition strategy, has added 5,262 BTC valued at approximately $561 million between December 16 and 22. This raises its total holdings to 444,262 BTC, acquired for an aggregate cost of $27.7 billion, with an average purchase price of $62,257 per Bitcoin.
As of December 23, MicroStrategy is the largest corporate Bitcoin holder globally, surpassing BlackRock and Grayscale Investments. The company's Bitcoin portfolio shows a 47.4% return quarter-to-date and a 73.7% return year-to-date.
MicroStrategy has acquired 5,262 BTC for ~$561 million at ~$106,662 per bitcoin and has achieved BTC Yield of 47.4% QTD and 73.7% YTD. As of 12/22/2024, we hodl 444,262 $BTC acquired for ~$27.7 billion at ~$62,257 per bitcoin. $MSTR https://t.co/asDGerBV7q
— Michael Saylor⚡️ (@saylor) December 23, 2024
To finance this acquisition, MicroStrategy sold 1,317,841 shares, generating approximately $561 million in net proceeds, as disclosed in a filing with the United States Securities and Exchange Commission (SEC). The sale was part of an ongoing ATM program, which still has about $7 billion worth of shares available for sale, potentially for future Bitcoin purchases.
MicroStrategy Joins the Nasdaq-100 Index
Recently, MicroStrategy was included in the Nasdaq-100 index, alongside Palantir Technologies and Axon Enterprise. This index comprises 100 of the largest non-financial companies listed on the Nasdaq Stock Market.
The inclusion, effective immediately, reflects confidence in the company's financial stability and market performance, aligning it with tech giants like Apple, Microsoft, and Amazon. This milestone may enhance liquidity and valuation for shareholders as investment funds benchmarked to the Nasdaq-100 incorporate MicroStrategy's stock.
A Year of Milestones for MicroStrategy
In 2024, MicroStrategy has achieved significant milestones, including its Nasdaq-100 inclusion and an aggressive Bitcoin acquisition strategy, with seven different purchases between November and December.
Founder Michael Saylor, a Bitcoin advocate, argues that Bitcoin serves as a long-term hedge against inflation and economic uncertainty. On December 21, he proposed a Digital Assets Framework for the U.S., advocating for a Bitcoin reserve that could generate up to $81 trillion in revenue for the Treasury.
Saylor stated that this proposed framework would bolster the nation's fiat currency, address national debt, and position the U.S. as a leader in the 21st-century digital economy.