MicroStrategy adds 15,400 BTC for $1.5 billion

Monday begins on a similar note for Bitcoin enthusiasts as MicroStrategy has made another massive acquisition, this time for $1.5 billion in BTC.

Popular Bitcoin bull Adam Back was quick to praise the company’s move, describing the $95,976 average entry as a “good price.”

MicroStrategy has acquired 15,400 BTC for ~$1.5 billion at ~$95,976 for #bitcoin and has achieved a BTC return of 38.7% QTD and 63.3% YTD. As of 12/2/2024, we have 402,100 $BTC acquired for ~$23.4 billion at ~$58,263 per bitcoin. $MSTR https://t.co/K3TK4msGp0

— Michael Saylor⚡️ (@saylor) December 2, 2024

This is the third Monday in a row that the business intelligence behemoth founded by Michael Saylor has announced a substantial purchase of BTC. Although the company spent approximately $1.5 billion to acquire 15,400 BTC now, it is still behind the record set last week of 55,500 BTC (worth $5.4 billion at the time).

With its latest acquisition, MicroStrategy’s total Bitcoin holdings have increased to 402,100 BTC, purchased at an average price of $58,263.

That means the company has spent nearly $23.5 billion to build up its Bitcoin holdings. Given the asset’s current price of just over $95,000, that puts the storage’s value at well over $38 billion, or a paper gain of nearly $15 billion.

Blockstream co-founder and longtime Bitcoin supporter Adam Back commented on Saylor’s post, saying that “suckers” sold their BTC at prices below $100,000 to Saylor and MicroStrategy over the weekend .

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