Key Points
- MicroStrategy acquired 2,138 bitcoins for $209 million between December 23-29, 2024, bringing its total holdings to 446,400 BTC purchased at an average price of $62,428 per coin.
- The company raised the funds through its ATM stock offering program, with approximately $6.88 billion still available for future share issuance and bitcoin purchases.
Latest Acquisition Shows Bullish Stance Despite High Prices
MicroStrategy, the largest corporate holder of bitcoin, continues its aggressive accumulation strategy by purchasing an additional 2,138 BTC at an average price of approximately $97,837 per coin. The acquisition, made during the final week of December 2024, demonstrates the company’s unwavering confidence in bitcoin even as prices trade near all-time highs.
Strong Performance Metrics
The company’s Bitcoin-focused strategy appears to be paying off, as indicated by its BTC Yield metrics. MicroStrategy reported a BTC Yield of 47.8% for Q4 2024 and an impressive 74.1% for the full year 2024. This key performance indicator measures the relationship between the company’s bitcoin holdings and its assumed diluted shares outstanding, suggesting that its bitcoin acquisition strategy has been accretive to shareholder value.
Strategic Financing Through Stock Sales
The recent bitcoin purchase was funded through MicroStrategy’s at-the-market (ATM) equity offering program, which generated approximately $209 million in net proceeds from the sale of 592,987 shares. The company maintains significant firepower for future acquisitions, with roughly $6.88 billion remaining available under its $21 billion ATM facility. This financing approach allows MicroStrategy to continue expanding its bitcoin holdings while minimizing debt exposure.
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