MicroStrategy scoops another 5,262 BTC before joining Nasdaq-100

Share this text

MicroStrategy introduced on Monday that it acquired 5,262 Bitcoin valued at $561 million between December 16 and 22, marking its seventh consecutive week of Bitcoin purchases forward of its upcoming inclusion within the Nasdaq-100 index. The acquisition was executed at a mean worth of roughly $106,662 per coin.

MicroStrategy has acquired 5,262 BTC for ~$561 million at ~$106,662 per bitcoin and has achieved BTC Yield of 47.4% QTD and 73.7% YTD. As of 12/22/2024, we hodl 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 Tysons, Virginia-based firm funded its Bitcoin buy by promoting shares of its personal inventory, in line with a Monday SEC filing. Final week, MicroStrategy bought 1,317,841 shares, producing roughly $561 million in internet proceeds. MicroStrategy nonetheless has round $7 billion price of shares accessible to promote beneath their gross sales settlement as of December 22, indicating potential for additional funding by inventory gross sales.

The newest buy contributes to the corporate’s spectacular Bitcoin yield of 47.4% quarter-to-date and 73.7% year-to-date. At present, MicroStrategy holds a complete of 444,262 BTC, acquired for about $27.7 billion at a mean price of $62,257 per coin

MicroStrategy shares have surged 476% year-to-date, making it certainly one of Nasdaq’s prime performers in 2023. This efficiency helped qualify the corporate for inclusion within the Nasdaq-100 index, which takes impact forward of market opening in the present day.

Nasdaq introduced its annual reconstitution of the Nasdaq-100 index on December 13, including MicroStrategy alongside Palantir Applied sciences and Axon Enterprise.

The market responded positively to the information, with MicroStrategy’s inventory worth rising 11.5% to $364 at Friday’s shut, in line with Yahoo Finance data.

Share this text