MicroStrategy Extends Bitcoin Buying Streak to 8 Weeks, but MSTR Cools Off

Published December 30, 2024 2:58 PM

By Giuseppe Ciccomascolo

Edited by Insha Zia

MSTR stock closed the year with an extraordinary 442% gain. | Credit: Kaboompics.com/Pexels

Key Takeaways

MicroStrategy added more Bitcoins to its holdings.
The company’s Bitcoin investment yielded substantial returns in 2024 despite a late-year stock dip.
MSTR joined the Nasdaq-100, marking a milestone year for the firm.

MicroStrategy has further cemented its position as a leading institutional Bitcoin holder, announcing the acquisition of an additional 2,138 BTC.

The purchase, totaling approximately $209 million, was made at an average price of $97,837 per Bitcoin.

MicroStrategy Continues BTC Purchases

This latest buy brings MicroStrategy’s total holdings to 446,400 BTC, acquired at a cumulative cost of about $27.9 billion.

The firm’s average purchase price stands at $62,428 per Bitcoin, reflecting its strategic focus on long-term Bitcoin adoption.

Michael Saylor , MicroStrategy’s executive chairman and Bitcoin evangelist, continues to champion the asset despite market volatility.

The latest purchase was funded through the company’s at-the-market (ATM) share sales program, which still has $6.88 billion available for future investments.

MicroStrategy’s commitment to Bitcoin paid off handsomely in 2024, with the company reporting a 47.8% quarter-to-date return and a staggering 74.1% year-to-date return on its Bitcoin investment.

MSTR’s December Dip Amid Stellar Year

MicroStrategy’s stock (MSTR), while achieving remarkable growth throughout 2024, faced a slowdown in December.

The shares dropped over 6%, settling at $330 by year-end—down from their December high of $387.47, shortly after the company joined the Nasdaq-100 index.

Despite the December decline, MSTR stock closed the year with an extraordinary 442% gain, far outpacing most market performers.

At the beginning of 2024, the stock was valued at just $69.25, underscoring its meteoric rise fueled by Bitcoin’s strong performance and institutional interest in the digital asset.

MicroStrategy’s Bitcoin-centric strategy has also propelled its stock to outperform all S&P 500 companies.

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About the Author

Giuseppe Ciccomascolo

Giuseppe Ciccomascolo began his career as an investigative journalist in Italy, where he contributed to both local and national newspapers, focusing on various financial sectors. Upon relocating to London, he worked as an analyst for Fitch's CapitalStructure and later as a Senior Reporter for Alliance News. In 2017, Giuseppe transitioned to covering cryptocurrency-related news, producing documentaries and articles on Bitcoin and other emerging digital currencies. He also played a pivotal role in establishing the academy for a cryptocurrency exchange website. Crypto remained his primary area of interest throughout his tenure as a writer for ThirdFloor.

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MicroStrategy Extends Bitcoin Buying Streak to 8 Weeks, but MSTR Cools Off

MicroStrategy Continues BTC Purchases

MSTR’s December Dip Amid Stellar Year

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