MicroStrategy gets 15,350 BTC ahead of Nasdaq-100 listing

Key Takeaways

MicroStrategy continues its Bitcoin rally, announcing today a $1.5 billion purchase of 15,350 BTC.
The company's current Bitcoin holdings are valued at $45 billion, accounting for more than 2% of the Bitcoin supply.

MicroStrategy announced today that it had acquired 15,350 BTC worth approximately $1.5 billion between December 9-15, marking the sixth consecutive week of Bitcoin purchases. The news comes before it will be included in the Nasdaq-100 index, which will take effect next Monday.

MicroStrategy has acquired 15,350 BTC for ~$1.5 billion at ~$100,386 each # bitcoin and has achieved a BTC Yield of 46.4% QTD and 72.4% YTD. As of 12/15/2024, we hold 439,000 $BTC acquired for ~$27.1 billion at ~$61,725 per bitcoin. $MSTR https://t.co/SaWLNBVkrl

— Michael Saylor⚡️ (@saylor) December 16, 2024

MicroStrategy financed the acquisition through the sale of 3,884,712 shares, generating net proceeds of approximately $1.5 billion, according to the SEC. to file. MicroStrategy will keep $7.6 billion in cash available from its $21 billion market share sale facility for future Bitcoin purchases.

The latest acquisition increases MicroStrategy's total Bitcoin holdings to 439,000 BTC, worth $45 billion at current market prices, representing more than 2% of the total Bitcoin supply.

The company's Bitcoin investments have produced strong returns, with a return of 72.4% year to date as of December 15.

According to Google Finance dataMSTR has been one of Nasdaq's best performing stocks this year, with an impressive 547% year-to-date gain. This increase qualified the company to be included in the Nasdaq-100.

On December 13, Nasdaq name the annual reconstitution of the Nasdaq-100 index, which saw three companies, including MicroStrategy, Palantir Technologies, and Axon Enterprise, added.

The market responded positively, with MicroStrategy shares rising from $411 on Friday to nearly $434 in premarket trading on Monday, Yahoo Finance data shows.

Inclusion in the Nasdaq-100 it may help MicroStrategy achieve its ambitious goal of amassing $42 billion worth of Bitcoin. The company is expected to have more financial flexibility to continue its aggressive Bitcoin acquisition strategy.