MicroStrategy has solidified its position as the largest corporate holder of Bitcoin with yet another acquisition. In a press release, the software company revealed that it purchased 1,070 BTC for $101 million at an average price of $94,004 per Bitcoin. This marks the company’s ninth Bitcoin purchase in as many weeks.
As of now, MicroStrategy owns a staggering 447,470 BTC, acquired at a total cost of $27.97 billion, averaging $62,503 per Bitcoin. The company’s aggressive Bitcoin strategy continues to yield impressive results. In the fourth quarter of 2024, MicroStrategy achieved a Bitcoin yield of 48.0%, and its annual yield for 2024 stood at 74.3%.
This acquisition follows last week’s announcement of a 2,138 BTC purchase for $209 million. With Bitcoin prices nearing $100,000, MicroStrategy’s bullish stance appears unshaken.
MicroStrategy’s $2 Billion Capital Raise Plan
MicroStrategy has announced plans to raise up to $2 billion through a public offering to fund additional Bitcoin purchases. This new capital initiative is part of a broader strategy to expand its holdings, supplementing the $42 billion the company had planned to raise over the next three years.
This strategic move aligns with MicroStrategy’s long-term vision of leveraging Bitcoin as a treasury reserve asset. The company’s stock price (MSTR) has responded positively to the latest developments. As per Nasdaq data, MSTR shares climbed over 3% today, trading around $350.
Bitcoin Whales Signal Accumulation Trends
MicroStrategy isn’t the only player betting big on Bitcoin. Whale Alert data indicates that other major investors are also accumulating. For example:
- A Bitcoin whale recently moved 1,696 BTC from an unknown wallet to another, signaling long-term holding.
- Another whale transferred 1,194 BTC from Coinbase to an unknown wallet, further supporting a trend of off-exchange accumulation.
These movements suggest growing confidence among large investors, which could provide upward momentum for Bitcoin. Analysts at CoinGape predict that Bitcoin’s recent correction is nearing its end, hinting at a strong bullish reversal. With BTC hovering around the $100,000 mark, many are optimistic about its trajectory heading into 2025.
Sources & Methodology
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