16.12.2024 18:00
The business intelligence giant MicroStrategy continues to expand its Bitcoin (BTC) portfolio. The company recently purchased an additional 15,350 BTC at an average price of $100,386 per Bitcoin. With a total Bitcoin holding reaching 439,000, the company now owns 2.1% of the world's Bitcoin supply.
MicroStrategy's corporate Bitcoin investments are opening the doors to a new era in the cryptocurrency market. The company's total assets of $27.1 billion, with an average cost of $61,725 per Bitcoin, are increasing corporate interest. MicroStrategy's market value of $92 billion is trading at a significant premium compared to the net asset value of Bitcoin. The company, which has made $17.5 billion in Bitcoin purchases over the last six weeks, is preparing to enter the Nasdaq 100 index.
MicroStrategy Increased Bitcoin Assets to $45 Billion
MicroStrategy's aggressive Bitcoin acquisition strategy continues to impact the markets. The company has announced plans for a new initiative with a target of raising $42 billion in capital.
Bernstein analysts assess that MicroStrategy's Bitcoin acquisition strategy is sustainable in the long term. The company's 18% leverage ratio provides the opportunity to issue more debt and sell shares.
MicroStrategy's shares, which will be included in the Nasdaq 100 index on December 23, have gained over 490% in value since the beginning of the year. Analyst James Seyffart expects at least $2.1 billion in net stock purchases following the inclusion in the index.