MicroStrategy Purchases $37.2 Million Worth of Bitcoin in January 2024
MicroStrategy's Bitcoin investment portfolio now holds a total of 190,000 Bitcoins, valued at up to $8.17 billion.
MicroStrategy has purchased $37.2 million worth of Bitcoin in January 2024. Image: Decrypt
As confirmed by Chairman Michael Saylor, MicroStrategy allocated $37.2 million to acquire an additional 850 Bitcoins (BTC) in the early days of 2024.
In January, @MicroStrategy acquired an additional 850 BTC for $37.2 million and now holds 190,000 BTC. Please join us at 5pm ET as we discuss our Q4 2023 financial results and answer questions about our #bitcoin strategy and business outlook. $MSTR https://t.co/j5SbcELsue
— Michael Saylor⚡️ (@saylor) February 6, 2024
This marks the company's first Bitcoin purchase of the new year for the world's largest publicly held Bitcoin stash. As of now, MicroStrategy owns nearly 190,000 Bitcoins, acquired at an average price of $31,409. Consequently, the company has spent $5.9 billion accumulating this BTC stash.
MicroStrategy's Bitcoin acquisition history. Source: Saylor Tracker (07/02/2024)
At the time of reporting ($43,101 per BTC), the giant's Bitcoin portfolio is valued at $8.17 billion, showing unrealized gains of $2.2 billion, which is over 37.5% above the capital invested.
In the past, MicroStrategy persevered through its Bitcoin accumulation strategy despite prolonged periods of losses. However, the company quickly turned the tide, averaging eight Bitcoin acquisitions in 2023, including:
- March 27, 2023: Initiated the year's first Bitcoin investment, purchasing an additional 6,455 BTC for $150 million.
- April 5, 2023: Acquired 1,045 BTC for $29.3 million at an average price of $28,016 per BTC.
- June 28, 2023: Invested $347 million to acquire 12,333 Bitcoin at $28,136 per BTC.
- July 2023: Purchased 476 Bitcoin for $14.4 million.
- September 24, 2023: Added 5,445 BTC for $150 million at an average price of $27,053.
- November 2, 2023: Acquired 155 BTC for $5.3 million.
- November 30, 2023: Invested $593.3 million to acquire 16,130 BTC at an average price of $36,785.
- December 27, 2023: Purchased 14,620 Bitcoin for $615.7 million, averaging $42,110 per BTC.
Additionally, MicroStrategy plans to raise funds by offering shares to continue its Bitcoin acquisition spree, aiming to gather an additional $750 million. By the end of last December, the company had already sold 1 million shares for $610 million.
