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MicroStrategy buys $22 billion in Bitcoin and sees a 74% return in 2024
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Michael Saylor, co-founder of MicroStrategy, revealed how much Bitcoin (BTC) the software company purchased in 2024. According to a balance sheet published by the executive on X, the company acquired more than 258 thousand BTC throughout the yeartotaling around US$22 billion.
Saylor also mentioned how much BTC yield they achieved as a result of the flagship cryptocurrency‘s performance last year. In this sense, the company had a total return, in BTC, of 74.3% over the past year.
At the beginning of 2024, the technology company had 189,150 BTC in cash, but ended the year with more than 440 thousand BTC. That is, there was a addition of more than 250 thousand BTC to the company’s cash flowwhich means that the company acquired, on average, 385 BTC per day of the year.
Saylor noted that with Bitcoin’s price at $100,000, this translates in shareholder value creation of US$14.06 billion for the year or US$38.5 million daily.
Positive balance in 2024
It is worth mentioning that the majority of the company’s Bitcoin purchases occurred at the end of the year. MicroStrategy went on a BTC buying spree from the beginning of November until the end of the year, carrying out eight consecutive weekly acquisitions. In its last operation of the year, the company added another 1,070 BTC to its cash, paying US$101 million.
The market expects these purchases to continue in 2025, as the company announced plans to raise up to $2 billion for BTC acquisitions. This was reflected in the price of company stock (MSTR), which soared 433% last year driven by the strong rise in BTC, which broke the US$100,000 barrier.
MicroStrategy’s strategy served as inspiration for other companies that also began making Bitcoin acquisitions last year. Bitwise head of research Ryan Rasmussen recently revealed that the amount of Bitcoin held by corporations has doubled last year.
As of Q4 2023, these corporations hold 262,635 BTC. This number increased by 6% in the first quarter of 2024, reaching 279,639 BTC.
Then, in the second quarter of 2024, BTC purchases increased by another 15%, with companies collectively holding 321,224 BTC. Other 13% increase occurred in the third quarter of 2024, with the BTC held by these corporations rising to 361,736 BTC.
The biggest increase (63%) occurred in the fourth quarter of last year, when these corporations held a combined 590,649 BTC. Rasmussen noted that MicroStrategy contributed most to the feat, although other companies like Metaplanet and Marathon Digital did their part.
MicroStrategy buys $22 billion in Bitcoin and sees a 74% return in 2024
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MicroStrategy buys $22 billion in Bitcoin and sees a 74% return in 2024
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MicroStrategy buys $22 billion in Bitcoin and sees a 74% return in 2024
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MicroStrategy buys $22 billion in Bitcoin and sees a 74% return in 2024
