MicroStrategy gets another 5,262 BTC before going to Nasdaq-100

Key Takeaways

MicroStrategy received 5,262 Bitcoin worth $561 million before entering the Nasdaq-100 index.
The company's total Bitcoin holdings represent over 2% of the total Bitcoin supply.

MicroStrategy announced on Monday that it acquired 5,262 Bitcoins valued at $561 million between December 16 and 22, marking the seventh consecutive week of Bitcoin purchases prior to inclusion in the Nasdaq index. -100. The acquisition was executed at an average price of approximately $106,662 per coin.

MicroStrategy has acquired 5,262 BTC for ~$561 million at ~$106,662 per bitcoin and has achieved a BTC Yield of 47.4% QTD and 73.7% YTD. As of 12/22/2024, we hold 444,262 $BTC acquired for ~$27.7 billion at ~$62,257 per bitcoin. $MSTR https://t.co/asDGerBV7q

— Michael Saylor⚡️ (@saylor) December 23, 2024

The Virginia-based Tysons company financed its purchase of Bitcoin by selling shares of its own stock, according to Monday's SEC filing. to file. Last week, MicroStrategy sold 1,317,841 shares, generating approximately $561 million in net cash. MicroStrategy still has about $7 billion worth of shares to sell under its December 22 sale agreement, indicating the potential for further financing through stock sales.

The latest purchase adds to the company's impressive Bitcoin return of 47.4% quarter to date and 73.7% year to date. Currently, MicroStrategy holds a total of 444,262 BTC, acquired for approximately $27.7 billion at an average cost of $62,257 per coin

MicroStrategy's shares are up 476% year to date, making it one of Nasdaq's top performers in 2023. This performance helped qualify the company for listing -target Nasdaq-100, which will take effect before the market opens today.

Nasdaq announced the annual reorganization of the Nasdaq-100 index on December 13, placing MicroStrategy with Palantir Technologies and Axon Enterprise.

The market responded positively to the news, with MicroStrategy's stock price rising 11.5% to $364 at the end of Friday, according to Yahoo Finance. data.