MicroStrategy Buys 2,138 Bitcoins for $209 Million in Eighth Week, Total Holdings at 446,400 BTC Worth $27.9 Billion

MicroStrategy Inc. has announced that it acquired an additional 2,138 bitcoins between December 23 and December 29, 2024, for approximately $209 million at an average price of about $97,837 per bitcoin. The purchase was funded through the sale of 592,987 shares, generating net proceeds of $209 million. This marks the company's eighth consecutive week of bitcoin purchases. With this latest acquisition, MicroStrategy now holds approximately 446,400 bitcoins, representing about 2.12% of the total bitcoin supply, acquired for a total of about $27.9 billion at an average price of $62,428 per bitcoin.

Michael Saylor, Executive Chairman of MicroStrategy, has been signaling impending purchases over the past weeks, stating, “Whenever I have some spare cash, we buy more Bitcoin.” The company has achieved a bitcoin yield of 47.8% quarter-to-date and 74.1% year-to-date. MicroStrategy has spent about $25 billion acquiring 257,100 bitcoins this year alone, setting a record for a public company in a single year.

Despite the continued accumulation of bitcoin, MicroStrategy's stock (ticker: MSTR) has declined, crossing below its 50-day moving average and falling about 45% from its all-time high a month ago. This decrease comes even as the price of bitcoin remains relatively stable around the $90,000 to $97,000 range.

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