tl;dr
Software company MicroStrategy has announced its fourth massive Bitcoin purchase in as many weeks, acquiring approximately 15,400 Bitcoin for $1.5 billion at an average price of about $95,976. As of December 2, 2024, the company holds 402,100 Bitcoin, valued at about $39 billion at the current price...
Software company MicroStrategy has made its fourth massive Bitcoin purchase in as many weeks, acquiring approximately 15,400 Bitcoin for $1.5 billion at an average price of about $95,976. As of December 2, 2024, the company holds 402,100 Bitcoin, valued at about $39 billion at the current price of $97,000 per Bitcoin.
MicroStrategy, once known for its software, has shifted its focus to Bitcoin investments, which has driven a significant surge in its stock price, outperforming the S&P 500. The company's strategic shift to Bitcoin investment has propelled its stock to unprecedented heights.
The company plans to raise $42 billion in additional funding to facilitate further Bitcoin acquisitions, indicating a strong commitment to its new investment strategy.
MicroStrategy's co-founder, Michael Saylor, has been a vocal advocate of Bitcoin as a store of value and investment. He believes that Bitcoin offers superior returns and serves as the ultimate way to store value, emphasizing the cryptocurrency's scarcity and annual appreciation.
MicroStrategy's stock (NASDAQ: MSTR) has experienced a remarkable journey, trading at less than $15 a share before its shift to Bitcoin investments. Today, it trades for $389, having soared to a new all-time high price, surpassing the performance of most other firms on the S&P 500.
MicroStrategy's proactive approach to Bitcoin purchases reflects its confidence in the cryptocurrency's potential, signaling its long-term commitment to this new investment direction.