MicroStrategy has expanded its Bitcoin portfolio with another major purchase, acquiring 15,350 BTC worth approximately $1.5 billion between December 9-15, 2023. The company paid an average price of $100,386 per Bitcoin using proceeds from convertible notes sales.
This latest acquisition pushes MicroStrategy's total Bitcoin holdings to 439,000 BTC, valued at $45.6 billion. The company's aggregate investment in Bitcoin now stands at $27.1 billion, with an average purchase price of $61,725 per BTC.
Michael Saylor, MicroStrategy's founder, pointed to the company's strong performance metrics, including a 46.4% return quarter-to-date and 72.4% year-to-date. In a recent Yahoo Finance interview, Saylor expressed continued confidence in Bitcoin, stating he would keep buying even at prices reaching $1 million per coin.
The company's aggressive Bitcoin strategy has coincided with remarkable growth in its stock value, which has surged 490% in 2023. Adding to this momentum, Nasdaq announced MicroStrategy's inclusion in the prestigious Nasdaq-100 Index, scheduled for December 23. This news sparked additional market interest, with the stock rising 3% in premarket trading.
As of the latest market data, MicroStrategy's stock traded at $408.70 in premarket activity, while Bitcoin's price stood at $103,941, representing a 1.3% increase over 24 hours.
The company's latest Bitcoin purchase reinforces its position as one of the largest corporate holders of the cryptocurrency, demonstrating unwavering commitment to its digital asset strategy despite market fluctuations.