Key Points
- MicroStrategy has increased its Bitcoin holdings with an additional 5,262 BTC, totaling 444,262 BTC.
- The software giant also joined the prestigious Nasdaq-100 index in 2024.
MicroStrategy, a well-known software company, has expanded its Bitcoin portfolio by acquiring an additional 5,262 BTC. The purchase, made between December 16 and 22, was worth approximately $561 million.
This purchase takes the company’s total Bitcoin holdings to 444,262 BTC, which were acquired at a total cost of $27.7 billion. The average purchase price was $62,257 per Bitcoin.
MicroStrategy: The Largest Corporate Bitcoin Holder
As of the end of 2024, MicroStrategy has become the largest corporate holder of Bitcoin worldwide. It has surpassed other major players like BlackRock and Grayscale Investments. As of December 23, the company’s Bitcoin portfolio has shown a 47.4% return for the quarter and a 73.7% return for the year.
To fund the latest Bitcoin acquisition, the business intelligence firm sold 1,317,841 shares last week. This sale generated approximately $561 million in net proceeds, which were used to fund the purchase, according to a filing with the United States Securities and Exchange Commission (SEC).
The sale was part of the company’s ongoing ATM program, which still has about $7 billion worth of shares available for sale. The proceeds could potentially be used for future Bitcoin purchases.
MicroStrategy’s Inclusion in the Nasdaq-100 Index
In addition to its Bitcoin acquisitions, MicroStrategy has also recently been included in the Nasdaq-100 index. This inclusion is effective from today and places the company alongside other tech giants like Apple, Microsoft, and Amazon.
The Nasdaq-100 index is a prestigious benchmark for technology and innovation, comprising 100 of the largest non-financial companies listed on the Nasdaq Stock Market. This inclusion signifies confidence in MicroStrategy’s financial stability and market performance.
For shareholders, this milestone could mean increased liquidity and valuation as more investment funds benchmarked to the Nasdaq-100 begin incorporating MicroStrategy’s stock.
MicroStrategy’s Landmark Year
The year 2024 has been significant for MicroStrategy. Apart from its inclusion in the Nasdaq-100, the company has maintained an aggressive Bitcoin acquisition strategy, making up to seven different purchases between November and December.
The company’s founder, Michael Saylor, a prominent Bitcoin advocate, has consistently argued that Bitcoin represents the best long-term hedge against inflation and economic uncertainty.
On December 21, Saylor introduced a Digital Assets Framework for the United States. He advocated for the creation of a Bitcoin reserve that he claims could generate up to $81 trillion in revenue for the country’s Treasury.
In a post on X, Saylor stated that the proposed reserve framework would enhance the country’s fiat currency, “address the national debt, and position the United States as a global leader in the digital economy of the 21st century.”
