December 30, 2024
MicroStrategy ( NASDAQ:MSTR ) just went all inagain. The Bitcoin-obsessed firm added another 2,138 BTC ( BTC-USD ) to its stash this week, shelling out $209 million to bring its total holdings to a jaw-dropping 446,400 BTC. This isn't just another buy; it's the eighth straight week of Bitcoin acquisitions. Funded through its massive $6.88 billion at-the-market (ATM) share sale program, the latest purchase was made at an average price of $97,837 per Bitcoin, inching the company's overall average to $62,428. Executive Chairman Michael Saylor dropped his signature cryptic teaser on X, keeping his followersand the marketbuzzing.
Here's the kicker: MicroStrategy's not stopping. Their ambitious 21/21 Plan lays out a strategy to pour another $42 billion into Bitcoin over the next three years. How? By splitting the funds between equity sales and fixed-income securities. December has already been a blockbuster month, with over 42,000 BTC added to their portfolio, valued at more than $4 billion. The long-term goal? To generate a juicy 6-10% annual yield from its Bitcoin assets starting in 2025. With 446,400 BTC currently on the books, it's clear that MicroStrategy is playing the long game, betting big on Bitcoin as the future of finance.
But not everything's moon-bound. Shares of Micro Strategy are down over 40% from their record highs, despite the company recently joining the Nasdaq 100. Investors are watching closely as MicroStrategy seeks shareholder approval to expand its equity issuancecritical for funding this Bitcoin binge. With skeptics questioning the risks of this strategy and believers eyeing the potential rewards, one thing's for sure: MicroStrategy's not slowing down, and the market's taking notice.
This article first appeared on
GuruFocus
.