Key Takeaways
- MicroStrategi bought 5,262 bitcoins worth $561 million before joining the Nasdaq-100 index.
- The company’s total Bitcoin holdings represent over 2% of the total Bitcoin supply.
MicroStrategi announced on Monday that it bought 5,262 bitcoins worth $561 million between Dec. 16 and 22, marking the seventh consecutive week of bitcoin purchases ahead of its upcoming inclusion in the Nasdaq-100 index. The purchase was made at an average price of about $106,662 per coin.
MicroStrategi bought 5,262 BTC for ~$561M at ~$106,662/BTC and achieved a BTC yield of 47.4% KTD and 73.7% ITD. From 22.12.2024. we have 444,262 $BTC bought for ~$27.7 billion at ~$62.257 per bitcoin. $MSTR https://t.co/asDGerBV7k
— Michael Sailor⚡ (@sailor) December 23, 2024
Virginia-based Tysons financed the purchase of bitcoin by selling its own stock, according to the SEC on Monday submission. Last week, MicroStrategi sold 1,317,841 shares, generating approximately $561 million in net proceeds. MicroStrategi still has about $7 billion of shares available for sale under their December 22 purchase agreement, indicating the potential for further financing through the sale of shares.
The latest purchase adds to the company’s impressive bitcoin return of 47.4% quarter-to-date and 73.7% year-to-date. Currently, MicroStrategi holds a total of 444,262 BTC, purchased for approximately $27.7 billion at an average price of $62,257 per coin
Shares of MicroStrategi are up 476% year-to-date, making it one of the Nasdaq’s best performers of 2023. This performance helped qualify the company for inclusion in the Nasdaq-100 index, effective ahead of today’s open markets.
On Dec. 13, Nasdaq announced the annual shakeup of the Nasdaq-100 index, adding MicroStrategi alongside Palantir Technologies and Akon Enterprise.
The market reacted positively to the news, with MicroStrategi’s share price rising 11.5% to $364 at the close on Friday, according to Yahoo Finance data.
