MicroStrategy, the U.S.-based business intelligence firm, capped off 2024 by purchasing an additional 2,138 BTC for $209 million. This acquisition brings its total Bitcoin holdings to a staggering 446,400 BTC, solidifying its position as the largest corporate holder of the cryptocurrency.
Latest Purchase Details
- Purchase Period: December 23–29, 2024.
- Average Price: $97,837 per BTC.
- Financing: Sale of 592,987 shares.
- BTC Yield: 74.1% YTD, with a 47.8% gain in Q4 alone.
This marks the eighth consecutive week of MicroStrategy bolstering its Bitcoin reserves.
Market Reaction
Despite this move, MicroStrategy stock (MSTR) dipped 5.19% today. However, it boasts a 395% YTD increase, outperforming both Bitcoin and the S&P 500.
Michael Saylor’s Bitcoin Vision
Michael Saylor, MicroStrategy’s outspoken CEO, continues his unwavering bullish stance on Bitcoin. He recently reiterated his commitment to “buying the top forever,” even if Bitcoin were to reach $1 million per BTC.
Saylor has also championed Bitcoin as a superior store of value compared to gold:
“Sell all U.S. gold, buy Bitcoin. Demonitize gold, and our assets would hit $100 trillion.”
2024: A Milestone Year for Bitcoin
The year has been pivotal for Bitcoin, particularly in terms of institutional adoption:
- Spot Bitcoin ETFs Approved: Making BTC more accessible to institutional investors.
- Institutional Interest: Surveys show 72% of institutional investors are willing to invest in digital assets.
At press time, Bitcoin is trading at $91,779, down 3.2% in the last 24 hours but up significantly over the year.
MicroStrategy’s relentless accumulation and institutional adoption signals a bullish trajectory for Bitcoin as 2024 concludes. With Michael Saylor leading the charge, could 2025 bring even more milestones for BTC?
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