MicroStrategy, the business intelligence giant and prominent Bitcoin investor, has announced the acquisition of 2,138 Bitcoin worth $209 million. This purchase brings the company’s total Bitcoin holdings to 446,400 BTC, valued at approximately $41.5 billion at current market prices.

The company revealed on 30 December that it had made the purchase between 23 and 29 December. The coins were bought at an average price of $97,837 per BTC, using $209 million in cash. According to a filing, the acquisition was funded by selling 592,987 shares during the same week.

Bitcoin Yield Soars to 74%

MicroStrategy reported an impressive year-to-date Bitcoin yield of 74.1% as of 30 December. Between October and December, the metric stood at 47.8%, underscoring the firm’s robust returns on its cryptocurrency investments.

Michael Saylor, co-founder and executive chairman of MicroStrategy, teased the latest purchase on 29 December, hinting at the move via the Saylor Tracker, a platform that monitors the company’s Bitcoin transactions. Saylor has consistently expressed his unwavering belief in Bitcoin’s long-term value, stating that MicroStrategy will continue to buy the asset regardless of its price, even if it reaches $1 million per coin.

Eighth Consecutive Week of Bitcoin Purchases

This marks the eighth consecutive week of Bitcoin purchases by MicroStrategy, during which the company added 194,180 BTC to its holdings. However, the volume of acquisitions has slowed compared to November, when the firm purchased over 100,000 BTC.

Since 31 October, MicroStrategy has maintained a weekly buying streak, demonstrating its commitment to its Bitcoin investment strategy.

Plans to Issue More Shares for Bitcoin Purchases

In a filing submitted to the United States Securities and Exchange Commission (SEC) on 23 December, MicroStrategy sought permission to increase the number of authorised shares for its Class A common stock and preferred stock.

The proposal, if approved, would expand authorised Class A common stock from 330 million shares to 10.33 billion shares. Similarly, authorised preferred stock would increase from five million shares to over one billion shares.

The company explained that this move would provide greater flexibility to issue additional shares as needed, potentially enabling further Bitcoin acquisitions in the future.

A Long-Term Commitment to Bitcoin

MicroStrategy’s aggressive Bitcoin strategy underlines its position as one of the most influential corporate investors in the cryptocurrency market. Despite fluctuations in Bitcoin’s price and criticisms of its high-risk approach, the company remains steadfast in its belief in the asset’s long-term potential.

Michael Saylor’s confidence in Bitcoin continues to shape MicroStrategy’s financial strategy, with the firm showing no signs of slowing down its accumulation of the leading cryptocurrency.