Microstrategy has amassed 423,650 BTC worth $25.6 billion and just bought 21,550 more, underscoring its aggressive bet on bitcoin as a transformative asset.
Microstrategy's Bitcoin Holdings Hit 423,650 After $2.1 Billion Purchase
This article was published more than a year ago. Some information may no longer be current.
WRITTEN BY
SHARE
Michael Saylor Highlights Microstrategy’s 423,650 BTC Portfolio and KPI Success
Software intelligence firm Microstrategy Inc. (Nasdaq: MSTR) has significantly expanded its bitcoin portfolio, as disclosed in a Dec. 9 filing with the U.S. Securities and Exchange Commission (SEC). Between Dec. 2 and Dec. 8, the company purchased 21,550 bitcoins for approximately $2.1 billion, at an average price of $98,783 per coin, inclusive of fees. The acquisition was funded through proceeds from a $2.13 billion stock sale under its October 2024 Sales Agreement, which allows the company to issue shares to finance key investments.
Michael Saylor, Microstrategy’s co-founder and executive chairman, highlighted the move on social media platform X, stating:
Microstrategy has acquired 21,550 BTC for ~$2.1 billion at ~$98,783 per bitcoin and has achieved BTC Yield of 43.2% QTD and 68.7% YTD. As of 12/8/2024, we hodl 423,650 BTC acquired for ~$25.6 billion at ~$60,324 per bitcoin.
The SEC filing confirmed these figures and reaffirmed the company’s strategic focus on leveraging equity proceeds to enhance its cryptocurrency holdings. The company now holds a total of 423,650 bitcoins, acquired at an aggregate price of $25.6 billion and an average cost of $60,324 per bitcoin.
This latest bitcoin purchase represents a substantial bet on cryptocurrency as a core asset. In the filing, Microstrategy also detailed its proprietary key performance indicator (KPI), BTC Yield, which measures the ratio of bitcoin holdings to diluted shares. The KPI recorded a 43.2% increase quarter-to-date and 68.7% year-to-date. The company acknowledged the limitations of the metric but positioned it as a tool to evaluate the accretive nature of its bitcoin strategy and its alignment with shareholder value creation.
Microstrategy recently announced its “21/21 Plan,” a strategy to raise $42 billion over three years—$21 billion through equity and $21 billion through fixed-income securities—to expand its bitcoin holdings. The company views this initiative as a way to leverage the digital transformation of capital to enhance shareholder value and further solidify its position as a leading bitcoin treasury firm. Saylor has projected BTC could reach $13 million per coin by 2045, citing increased adoption and reduced volatility as drivers of growth. His forecast includes a bear case of $3 million and a bull case of $49 million per coin. Saylor has also encouraged corporations, including Microsoft, to invest in bitcoin, arguing such moves could boost their market value. Additionally, he has suggested Berkshire Hathaway could deploy its $325 billion cash reserve into bitcoin under his influence.
