MicroStrategy Snaps Up 15,350 BTC, Investing $5.1B in Bitcoin This Month Amid Major Price Rally

Software service firm MicroStrategy has made a fresh Bitcoin acquisition as the premier asset continues to achieve new price milestones.

Today, MicroStrategy invested an additional $1.5 billion to acquire 15,350 units of Bitcoin at an average cost of $100,386 per unit. Michael Saylor, the company’s chairman, announced this latest acquisition via a tweet a few hours ago.

MicroStrategy Deploys $5.1B in Bitcoin So Far in December

This acquisition coincides with Bitcoin reaching an all-time high of $106,488 today. Although a brief pullback has followed the peak, Bitcoin continues to trade above $105K at press time.

Notably, this marks the first instance in which MicroStrategy has purchased Bitcoin in the $100K price range. Just seven days ago, the company acquired 21,550 units of Bitcoin for $2.1 billion. This particular investment followed one made the previous week when MicroStrategy bought 15,400 BTC for $1.5 billion.

Essentially, MicroStrategy has bought Bitcoin for three consecutive weeks in December. In total, it has committed $5.1 billion toward acquiring Bitcoin this month alone, adding 52,300 BTC to its portfolio.

Following today’s investment, MicroStrategy now holds 439,000 BTC tokens, which it has acquired for $27.1 billion since 2020. This puts its average cost per unit at $61,725 per BTC.

Notably, MicroStrategy’s Bitcoin portfolio is seeing an unrealized profit of $18.77 billion, bringing the total valuation to $45.85 billion. At current holdings, the company controls 2.21% of Bitcoin’s circulating supply. It has also posted a quarter-to-date return of 46.4% and a year-to-date profit of 72.4%.

Saylor annoucing new Bitcoin purchaseSaylor annoucing new Bitcoin purchase
Saylor announcing a new Bitcoin purchase

Six Straight Weeks of Buying with $17B Invested

MicroStrategy’s streak of weekly Bitcoin purchases began on November 11, following Bitcoin’s surge above $75K after the conclusion of the U.S. elections, which saw a pro-Bitcoin president, Donald Trump, elected.

Since then, MicroStrategy has made Bitcoin purchases every Monday, continuing with today’s acquisition. This marks the sixth consecutive week of multi-billion-dollar Bitcoin purchases. Specifically, the company has invested $17.13 billion, acquiring 186,780 BTC tokens over six weeks.

Despite Bitcoin becoming increasingly expensive, MicroStrategy continues to buy the asset regardless of price. As Michael Saylor has repeatedly mentioned, the company expects Bitcoin to eventually reach $13 million per unit, making the current acquisition price of around $100K a “steal.”

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Source: https://thecryptobasic.com/2024/12/16/microstrategy-snaps-up-15350-btc-investing-5-1b-in-bitcoin-this-month-amid-major-price-rally/?utm_source=rss&utm_medium=rss&utm_campaign=microstrategy-snaps-up-15350-btc-investing-5-1b-in-bitcoin-this-month-amid-major-price-rally

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