Saylor’s MicroStrategy added $2.1b in Bitcoin

Chairman Michael Saylor confirmed that MicroStrategy purchased an additional 21,550 Bitcoins for approximately $2.1 billion in cash between December 2 and December 8.

This latest acquisition increases MicroStrategy’s total Bitcoin (BTC) holdings to 423,650 tokens, worth approximately $41 billion. This acquisition marks the company’s fifth consecutive weekly acquisition, as reported on December 9.

According to Saylor, MicroStrategy spent an estimated $25.6 billion on BTC at an average price of $60,324 per coin. Bitwise Europe data shows that the company’s Bitcoin purchases will accelerate significantly in 2024.

MicroStrategy purchased 21,550 BTC at ~$98,783 for ~$2.1B. #bitcoin and achieved a BTC Return of 43.2% QTD and 68.7% YTD. As of 12.08.2024, we hold 423,650 units $BTC Bought for ~$25.6 billion at ~$60,324 per Bitcoin. $MSTR https://t.co/8r7bFqMFof

— Michael Saylor⚡️ (@saylor) December 9, 2024

Saylor’s aggressive Bitcoin strategy launched in 2020 generated nearly $16 billion in unrealized profits; BTC is trading above $98,900 as of December 9.

This $2.1 billion injection was part of Saylor’s larger plan to raise $42 billion in Bitcoin. MicroStrategy’s founder plans to implement this roadmap by 2027/2028. With years of BTC institutional enthusiasm, Saylor pushed other giants to adopt the Bitcoin standard. He presented BTC to the Board of Directors of $3 trillion heavyweight Microsoft.

Crypto-native founders like Coinbase CEO Brian Armstrong and former Binance Changpeng Zhao have encouraged governments and other giants to buy Bitcoin. Armstrong advised sovereign nations to turn to the leading digital asset as a hedge against inflation, while Zhao suggested that Amazon add BTC to its balance sheet and payment methods, following demands from shareholders.

If you purchased $100 worth of Bitcoin when Coinbase was founded in June 2012, it would now be worth approximately $1,500,000.

If you held on to $100, you would only be able to purchase $73 worth of goods today.

Bitcoin is the best performing asset of the last 12 years and it is still early… pic.twitter.com/dvBgX5K7or

— Brian Armstrong (@brian_armstrong) December 5, 2024