MicroStrategy Goes Shopping Again, Buys 21,550 BTC ($2.1B)

American business intelligence company MicroStrategy has topped its Bitcoin stash by acquiring 21,550 BTC (worth approximately $2.1 billion). The firm’s executive chairman, Michael Saylor, disclosed that the BTC holdings were bought at roughly $98,783 per BTC. The latest acquisition further cements the firm’s leading position among corporate Bitcoin holders.

MicroStrategy has acquired 21,550 BTC for ~$2.1 billion at ~$98,783 per #bitcoin and has achieved BTC Yield of 43.2% QTD and 68.7% YTD. As of 12/8/2024, we hodl 423,650 $BTC acquired for ~$25.6 billion at ~$60,324 per bitcoin. $MSTR https://t.co/8r7bFqMFof

— Michael Saylor⚡️ (@saylor) December 9, 2024

MicroStrategy Holds 423,650 BTC

Earlier this month, MicroStrategy bought 15,400 BTC (worth $1.5 billion). Following its latest acquisition, the firm holds a portfolio of 423,650 BTC, purchased for about $25.6 billion at an average price of $60,324 for each bitcoin.

It is no news that MicroStrategy has frequently accumulated the leading cryptocurrency for over four years. When the publicly traded firm began acquiring BTC in August 2020, it bought a few thousand units. However, that figure has skyrocketed recently, as the company now spends billions of dollars to stockpile tens of thousands of the apex cryptocurrency.

Interestingly, this frequent acquisition culture has profited MicroStrategy’s overall performance and its stock price. With its latest big buy, the business intelligence firm has seen a 68.7% BTC yield since the year’s start until now. When BTC’s price surpassed the $100,000 mark, MicroStrategy’s Bitcoin portfolio soared to a total valuation of $41 billion.

MicroStrategy’s MSTR stock price is not left out in the bullish trend. Its value recently soared to an all-time high of $543. At the time of writing, it traded at $395.

How Does MicroStrategy Supports BTC’s Price?

Notably, the continuous buy actions from firms like MicroStrategy are playing a key role in aiding BTC’s growth. Last week, technical analyst Ali Martinez tagged $96,870 as the support level for the leading crypto asset. This is because retail and institutional investors accumulated a large quantity of BTC at this price.

The analyst added that if the demand zone holds, BTC will likely see more price increments. At the time of writing, BTC sold for $99,200, signaling a 1.1% decrease in the past 24 hours.