MicroStrategy Adds 2,138 BTC To Its Growing Bitcoin Collection
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Reports revealed that MicroStrategy has continued to buy Bitcoin, adding 2,138 BTC for $209 million to its collection. This purchase was reportedly done on December 29, marking the eighth week in a row that the company has bought Bitcoin.
MicroStrategy now owns 446,400 BTC, keeping its place as the largest Bitcoin holder among publicly traded companies.
MicroStrategy’s Ambitious “21/21 Plan” Aims To Secure $42 Billion In Bitcoin
According to reports, MicroStrategy’s Bitcoin buying strategy has caught the attention of financial experts, not just because of the large amounts but because of the steady approach the company uses.
Reports shared that the company used its at-the-market (ATM) program to fund this latest purchase. This program reportedly lets the company sell shares to raise money, and it was noted that MicroStrategy still has $6.88 billion available through this program.
Michael Saylor, the Executive Chairman and Co-Founder of MicroStrategy, reportedly posted on X the recent purchase. He reportedly mentioned “disconcerting blue lines on SaylorTracker.com” in a post. Reports revealed that the average price for the new Bitcoin purchase was $97,837, which reportedly increased the company’s total average to $62,428 per BTC.
MicroStrategy has an ambitious plan known as the “21/21 Plan.” Reports stated that the plan aims to buy $42 billion worth of Bitcoin over the next three years. According to the details, the company wants to raise $21 billion through selling shares and another $21 billion through fixed-income securities.
MicroStrategy Seeks Shareholder Support To Expand Bitcoin-Focused Strategy
In a recent filing, MicroStrategy reportedly asked its shareholders to approve changes that would allow it to issue more shares. This move, as stated in reports, would help the company fund its continued Bitcoin buying without financial hurdles.
The proposed changes would increase the number of shares available for Class A common stock and preferred stock, giving the company more resources for its Bitcoin-focused plans.
Reports also shared that as of December 22, 2024, MicroStrategy and its subsidiaries held 444,262 BTC, worth around $43.5 billion at the time. These Bitcoin were reportedly purchased for about $27.7 billion, at an average price of $62,257 per BTC. The company has seen a large rise in the value of its Bitcoin holdings.
MicroStrategy stated that it aims to generate an annual yield of 6% to 10% from its Bitcoin assets between 2025 and 2027. It was further noted that in December alone, the company bought 42,162 BTC, worth more than $4 billion, showing rapid progress in its plans.
