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The purchases took place over the week ended Sunday and were funded with share sales under the company’s ATM program.
By James Van Straten|Edited by Sheldon Reback, Stephen Alpher
Updated Dec 2, 2024, 3:00 p.m. Published Dec 2, 2024, 1:35 p.m.
What to know:
Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR).
Story continues below
Bitcoin Development Company MicroStrategy (MSTR) is now the owner of nearly 2% of all the bitcoin (BTC) that will ever be created after again adding to its holdings of the token.
The firm Monday morning disclosed the purchase of 15,400 bitcoin over the week ended Dec. 1 for $15.4 billion, or an average price of $95,976 each. That brings its holdings to 402,100 tokens worth $38.2 billion at bitcoin’s current price of $95,000. The company’s overall average purchase price is $58,263.
This most recent buy was funded with share sales under the company’s existing at-the-market program, according to the disclosure.
Executive Chairman Michael Saylor once again on Sunday teased the Monday announcement.
MicroStrategy’s 402,100 tokens amount to more than 1.9% of the 21 million bitcoin that can ever be created.
Underway is the process for rebalancing the Nasdaq 100 and one discussion point is whether MicroStrategy will be included in the re-figured index. An announcement on inclusion is due to take place on Dec. 13.
Saylor also on Sunday posted that he gave a 3-minute presentation to the Microsoft (MSFT) board regarding bitcoin investment as a diversification strategy.
MSTR shares are little-changed premarket and remain higher by 450% year-to-date.
Bitcoin miner MARA Holdings (MARA) — which has been trying to replicate the Saylor strategy of raising money in capital markets to fund bitcoin purchases — announced Monday the purchase of another 6,484 BTC during the period between Oct. 1 and Nov. 30 for approximately $618.3 million in cash at an average cost of approximately $95,352.
The company additionally launched a proposed private offering of $700 million in zero-coupon convertible senior notes due 2031. The proceeds will primarily be used to acquire further bitcoin and repurchase existing convertible notes due 2026.
MARA as of Nov. 30 holds a total of 34,959 bitcoin worth $3.3 billion at the current price.
As the senior analyst at CoinDesk, specializing in Bitcoin and the macro environment. Previously, working as a research analyst at Saidler & Co., a Swiss hedge fund, introduced to on-chain analytics. James specializes in daily monitoring of ETFs, spot and futures volumes, and flows to understand how Bitcoin interacts within the financial system. James holds more than $1,000 worth of bitcoin, MicroStrategy (MSTR), Semler Scientific (SMLR), IREN (IREN), MARA Holdings (MARA), Cipher Mining (CIFR), Bitfarms (BITF), Riot Platforms (RIOT) and CleanSpark (CLSK).
DISCLOSURE
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