MicroStrategy Acquires 15,350 BTC for $1.5 Billion Amid Market Surge
MicroStrategy, led by Michael Saylor, has increased its Bitcoin (BTC) acquisition strategy for the sixth week in a row. The firm purchased additional BTC as prices exceeded $106,000 on Monday.
MicroStrategy's Bitcoin Holdings Reach 439,000 BTC
On Monday, MicroStrategy acquired 15,350 BTC for approximately $1.5 billion, averaging about $100,386 per Bitcoin. This purchase raises the firm's total Bitcoin holdings to 439,000 BTC, acquired for roughly $27.1 billion at an average price of $61,725 per Bitcoin.
Saylor noted on social media that these holdings have yielded significant returns, with a quarter-to-date gain of 46.4% and a year-to-date gain of 72.4%.
The positive market momentum follows growing optimism since November 5, after President-elect Donald Trump secured a new term, promising regulatory changes favorable to digital assets. The US cryptocurrency market has faced challenges from the SEC in recent years.
Impact on MicroStrategy's Stock Price
Bitcoin's price increase is reflected in a notable rise in trading volume, with CoinGecko reporting a $92 million surge in the past 24 hours—54% higher than the previous day. MicroStrategy’s investment strategy has also positively impacted its stock (MSTR), which rose over 3% in premarket trading following the announcement of its inclusion in the Nasdaq 100 index.
This inclusion, effective December 23, is anticipated to attract substantial investment flows, potentially generating $2.1 billion in stock purchases from over 200 exchange-traded products tracking the index.
Bernstein analyst Gautam Chhugani stated that MicroStrategy's Bitcoin purchasing program is "unprecedented," making it the largest corporate holder of Bitcoin, owning around 2% of the total supply. Chhugani commented:
MSTR’s Bitcoin buying program is unprecedented on the street, and inclusion in Nasdaq 100 further improves MSTR’s market liquidity, expanding its capital flywheel and Bitcoin buying program.
As of now, BTC has stabilized at $103,900 after reaching new all-time highs, recording gains of 2% within 24 hours and nearly 6% weekly.
Featured image from DALL-E, chart from TradingView.com