Key Points
- MicroStrategy’s Bitcoin holdings exceed 400,000 BTC, with recent acquisitions of over 15,000 BTC.
- MARA Holdings follows MicroStrategy’s strategy, purchasing 6,484 BTC valued at $3.3 billion.
MicroStrategy’s Unwavering Commitment to Bitcoin
MicroStrategy continues to show dedication to Bitcoin acquisition, irrespective of market conditions. As we transition from November to December, the business intelligence giant has made significant progress in its Bitcoin strategy, pushing its holdings over 400,000 BTC.
MicroStrategy now holds 402,100 Bitcoin tokens, valued around $38.2 billion based on the current price of $95,000 per BTC. The average purchase price per token for the company is $58,263. The recent acquisition was financed through share sales under its ongoing at-the-market program.
Anticipation within the Crypto Community
Executive Chairman Michael Saylor hinted at this purchase on 1st December, creating further excitement within the crypto community. In the past week, MicroStrategy sold 3.7 million shares of its MSTR stock, raising approximately $1.5 billion, which was promptly reinvested into Bitcoin. This marks the company’s fourth consecutive week of Bitcoin purchases.
According to Bloomberg, MicroStrategy has around $11.3 billion remaining in its stock issuance program. This is part of a larger strategy to secure $21 billion in funding through fixed-income securities by 2027. The company acquired 15,400 BTCs between the 25th of November and the 1st of December, purchasing them at an average price of around $95,976 per token. Since the 11th of November, the company has invested more than $13.5 billion in Bitcoin across three separate batches.
MARA Holdings Follows Suit
Bitcoin miner MARA Holdings has followed MicroStrategy’s Bitcoin acquisition strategy, recently purchasing 6,484 BTC for approximately $618.3 million in cash between the 1st of October and the 30th of November, at an average cost of $95,352 per token. As of the 30th of November, MARA holds 34,959 BTC, valued at $3.3 billion at current prices.
However, MicroStrategy is navigating a challenging phase as its market capitalization experiences an unprecedented four-day decline. Since reaching its peak on the 21st of November, the company’s valuation has plummeted by over 35%, erasing more than $30 billion. Meanwhile, Bitcoin was trading at $94,868.35, reflecting a 0.50% decline in the past 24 hours, and MSTR stock was down 1.85%, trading at $380.30.