- MicroStrategy surpasses 400,000 BTC holdings, acquiring over 15,000 BTC in recent weeks.
- MARA Holdings adopts MicroStrategy’s strategy, purchasing 6,484 BTC, valued at $3.3 billion.
As an analyst with years of experience navigating the volatile world of cryptocurrencies and traditional markets alike, I find MicroStrategy’s Bitcoin acquisition strategy to be nothing short of bold and visionary. Despite facing challenging market conditions, the company continues to double down on its investment in BTC, demonstrating a level of conviction that is rare among public companies today.
Despite fluctuations in the market, MicroStrategy continues to stand firm on its investment in Bitcoin.
In the transition from November to December, the leading business intelligence company has significantly advanced its Bitcoin approach, increasing its ownership to more than 400,000 Bitcoins.
MicroStrategy’s current Bitcoin holdings
As of the present moment, MicroStrategy owns a grand total of 402,100 Bitcoins, which is equivalent to an impressive approximate value of $38.2 billion, given that each Bitcoin is currently worth around $95,000.
The company’s average purchase price stands at $58,263 per token.
This recent purchase was funded by selling shares, as part of the company’s ongoing offering program for at-the-market transactions, which has been made public.
As a curious crypto investor, the whisper of upcoming announcements from Executive Chairman Michael Saylor on December 1st had me on tenterhooks. The air buzzed with excitement within our vibrant crypto community, as we eagerly awaited the revelation he had teased.
Over the past seven days, MicroStrategy disposed of approximately 3.7 million shares of its MSTR stock, raking in roughly $1.5 billion. This money was swiftly put back into Bitcoin.
This marks the company’s fourth consecutive week of Bitcoin purchases.
According to Bloomberg, MicroStrategy still has approximately $11.3 billion left to raise through its stock issuance plan, as part of a broader effort to obtain about $21 billion in financing via fixed-income securities by the year 2027.
Indeed, as reported in their recent submission to the U.S. Securities and Exchange Commission (SEC), MicroStrategy bought approximately 15,400 Bitcoins from the 25th of November through the 1st of December, with each coin costing roughly $95,976 on average.
From the 11th of November onwards, our company has put over $13.5 billion into Bitcoin, divided into three distinct transactions.
Is MARA following MicroStrategy’s footsteps?
Bitcoin mining company MARA Holdings (MARA) has persisted in emulating MicroStrategy’s Bitcoin buying approach, lately acquiring 6,484 Bitcoins for roughly $618.3 million in cash during the period from October 1st to November 30th. The average price per token was around $95,352.
As of the 30th of November, MARA holds 34,959 BTC, valued at $3.3 billion at current prices.
On the other hand, it’s crucial to highlight that MicroStrategy is currently facing a difficult period due to its unusual four-day drop in market value.
Upon hitting its highest point on November 21st, the company’s market capitalization has taken a significant dive, dropping by roughly 35%. This steep decline has wiped out approximately $30 billion from our valuation.
Currently, Bitcoin (BTC) is being traded at approximately $94,868.35, showing a decrease of 0.50% over the last 24 hours. On the other hand, MicroStrategy’s stock (MSTR) is experiencing a drop of 1.85%, with its current trading price at $380.30.
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2024-12-04 07:38