Bitcoin bull Michael Saylor has scooped up another massive pile of BTC, adding 15,350 coins to MicroStrategy‘s already substantial holdings. The latest acquisition cost the company a cool $1.5 billion, with an average purchase price of $100,386 per coin. Not exactly bargain hunting. The move was funded through the sale of 3.88 million company shares as part of an aggressive weekly buying strategy.
MicroStrategy now sits on a dragon’s hoard of 439,000 BTC worth approximately $45 billion. That’s over 2% of Bitcoin’s fixed supply. Just let that sink in. The company’s average cost basis across all holdings stands at $61,725 per coin, considerably lower than current market prices. Their strategic Bitcoin investments have delivered impressive returns with BTC Yield of 72.4% year-to-date. The company has seen its NAV premium decrease to 2.22X from its previous peak of 3.4X.
MicroStrategy’s 439,000 BTC treasure chest represents over 2% of all Bitcoin that will ever exist—an astonishing bet at $61,725 per coin.
Saylor isn’t slowing down, either. The company has positioned itself with $7.65 billion in equity available for future acquisitions and a staggering $21 billion in fixed-income securities earmarked for more Bitcoin purchases. This strategy aligns with Bitcoin’s historical supply dynamics that enhance scarcity and long-term value. They’ve announced an at-the-market share sales strategy for the $21 billion round. Money printer go brrr.
MSTR shares jumped about 4% following the purchase announcement. Year-to-date, the stock is up an eye-watering 490%, though it’s currently trading one-fifth below its November 21 pre-market high. The company’s recent inclusion in the Nasdaq 100 further strengthens its ability to raise capital.
This buying spree comes as Bitcoin hovers near $106,000, flirting with all-time high levels. Saylor’s strategy involves “accretive dilution,” using share sales to finance Bitcoin acquisitions without applying discounts to at-the-market offerings. Instant shareholder dilution happens with each offering, but nobody seems to mind.
The former CEO (demoted due to a 2022 legal settlement) has positioned MicroStrategy to trade at a premium to its Bitcoin asset value. Saylor remains chairman with minority voter status. Critics question the sustainability of this approach, but Saylor keeps doubling down. So far, the numbers are on his side.
