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The world’s biggest corporate holder of bitcoin continues with its accumulation phase by allocating another $209 million to purchase 2,136 BTC.
With this eight consecutive Monday purchase, the company’s stash has skyrocketed to over 446,000 BTC.
MicroStrategy has acquired 2,138 BTC for ~$209 million at ~$97,837 per bitcoin and has achieved BTC Yield of 47.8% QTD and 74.1% YTD. As of 12/29/2024, we hodl 446,400 $BTC acquired for ~$27.9 billion at ~$62,428 per bitcoin. $MSTR https://t.co/58aXM7g6u2
— Michael Saylor⚡️ (@saylor) December 30, 2024
After the multi-billion dollar acquisitions announced in November and early December, MicroStrategy has slowed down on its BTC investments but still continues to allocate millions.
The latest, announced by co-founder Michael Saylor earlier today, came at an average price of $97.834 per BTC. The firm has now spent just shy of $28 billion to accumulate its stash at an average price of $62,428.
Although bitcoin’s price stands around 15% away from its all-time high registered last week, MicroStrategy’s holdings have a current value of $41.5 billion. This means that the firm now stands on an unrealized profit of more than $13 billion.
As it happened with the last couple of purchases, though, Peter Schiff, the well-known BTC critic, was first to bash Saylor and the company he co-founded. The gold bug has repeatedly claimed that MicroStrategy’s purchases are the only thing that pushed BTC’s price north. He now said that this “smaller buy” with an average price above the current one cannot keep the asset rising.
Once again you’ve announced a smaller buy at an average price that’s above the current price. You’re no longer buying enough Bitcoin to keep the price rising.
— Peter Schiff (@PeterSchiff) December 30, 2024
It’s worth noting that BTC’s price has indeed tumbled in the past couple of weeks. It went from over $108,000 to its current level of $93,000, losing 15% in the process after the latest FOMC meeting for the year.
This article first appeared at CryptoPotato
