MicroStrategy remains steadfast in its commitment to acquiring Bitcoin, regardless of market fluctuations.
December has begun with MicroStrategy making remarkable progress in its Bitcoin investment strategy, increasing its holdings to over 400,000 BTC.
Overview of MicroStrategy’s Bitcoin Holdings
Currently, MicroStrategy’s Bitcoin reserves stand at 402,100 tokens, with an approximate value of $38.2 billion, based on the current price of $95,000 per BTC.
The company’s average purchase price per token is $58,263.
This recent acquisition was funded through shares sold under its ongoing market program, as officially disclosed.
On the 1st of December, Executive Chairman Michael Saylor hinted about this acquisition, building anticipation within the cryptocurrency community prior to the announcement.
In the last week, MicroStrategy sold 3.7 million shares of MSTR stocks, raising about $1.5 billion, which was promptly reinvested in Bitcoin.
It marks the company’s fourth consecutive week of purchasing Bitcoin.
Reportedly, MicroStrategy has around $11.3 billion remaining in its stock issuance plan, a part of the broader strategy to secure $21 billion through fixed-income securities by 2027.
According to a recent filing with the U.S. Securities and Exchange Commission (SEC), MicroStrategy acquired 15,400 BTC between November 25th and December 1st, with an average price close to $95,976 per token.
Since November 11th, the company has invested over $13.5 billion in Bitcoin across three different batches.
Is MARA Emulating MicroStrategy’s Approach?
Bitcoin miner MARA Holdings (MARA) seems to be following in the footsteps of MicroStrategy’s Bitcoin acquisition strategy, having recently bought 6,484 BTC for roughly $618.3 million in cash between October 1st and November 30th, at an average cost of $95,352 per token.
As of November 30th, MARA’s Bitcoin holdings amount to 34,959 BTC, valued at $3.3 billion at current prices.
However, it is worth noting that MicroStrategy is currently navigating a challenging phase as its market capitalization witnesses an unprecedented four-day decline.
Since reaching its peak on November 21st, the company’s valuation has dropped by over 35%, wiping out more than $30 billion.
Meanwhile, BTC was being traded at $94,868.35, showing a 0.50% decline in the past 24 hours, while MSTR stock was down by 1.85%, trading at $380.30.