MicroStrategy has further solidified its position as the largest corporate Bitcoin holder by acquiring an additional 15,400 BTC between November 25 and December 1, 2024. The purchase was executed at an average price of $95,976 per Bitcoin. This brings the company’s total holdings to 402,100 BTC and is now valued at approximately $38.47 billion.
The latest acquisition was funded through the company’s at-the-market equity program. This program raised $1.48 billion through the sale of 3.7 million shares of Class A common stock. This move follows closely on the heels of an even larger Bitcoin investment the previous week, when MicroStrategy acquired 55,000 BTC for $5.4 billion between November 18 and 24.
The company’s aggressive accumulation strategy has proven profitable. According to the data from Saylortracker, their total Bitcoin investment is showing a 63.8% unrealized gain. To put this into numbers, the company is sitting on a $14.9 billion profit. MicroStrategy’s aggregate investment of $23.4 billion in Bitcoin has been acquired at an average price of $58,263 per coin.
US Economic Events To Impact the $3.37 Trillion Crypto SpaceThe previous week’s substantial purchase was financed through multiple channels. Meanwhile, MicroStrategy’s executive chairman, Michael Saylor, has extended his Bitcoin advocacy beyond his own company. Saylor recently made a compelling presentation to Microsoft’s board of directors.
Saylor argued that Microsoft could potentially increase its market capitalization by nearly $5 trillion through Bitcoin adoption. He also emphasized that the technology giant cannot afford to miss the next tech wave.
MicroStrategy’s largest-ever single BTC purchase happened on Nov 25, 2024. This was when the company bought 55,500 BTC. This stash was bought at an average price of $97,862 per coin. However, as Bitcoin has retraced to the $95,600 level, the company is sitting on a $97 million unrealized loss on that single purchase. In terms of price performance, Bitcoin is also showing signs of struggle to breach the important $100,000 level.
