MicroStrategy (MSTR) Joins the Nasdaq-100 Index, Increases Its Bitcoin Holdings to 444262 BTC

MicroStrategy, the software giant known for its unprecedented Bitcoin acquisition strategy, has increased its Bitcoin holdings with an additional 5,262 BTC

Software giant MicroStrategy has increased its Bitcoin (BTC) holdings by an additional 5,262 BTC, according to a recent filing with the United States Securities and Exchange Commission (SEC). The BTC was acquired between December 16 and 22, bringing the company’s total Bitcoin holdings to 444,262 BTC.

The Bitcoin was acquired at an aggregate cost of $27.7 billion, with an average purchase price of $62,257 per Bitcoin, as reported by the company. This reflects a 47.4% return quarter-to-date and 73.7% year-to-date on its Bitcoin portfolio as of December 23.

To finance the latest Bitcoin acquisition, the business intelligence firm sold 1,317,841 shares last week, generating approximately $561 million in net proceeds. The proceeds were used to fund the purchase, according to the filing.

The sale was part of the company’s ongoing ATM program, which still has about $7 billion worth of shares available for sale. As usual, the proceeds could still be used for future Bitcoin purchases.

MicroStrategy is now the largest corporate Bitcoin holder globally, surpassing BlackRock and Grayscale Investments. In addition, MicroStrategy was recently included in the Nasdaq-100 index, alongside Palantir Technologies and Axon Enterprise.

Nasdaq announced the list last week, with the inclusion effective starting today. The Nasdaq-100 index comprises 100 of the largest non-financial companies listed on the Nasdaq Stock Market, serving as a key benchmark for technology and innovation.

The inclusion signals confidence in the company’s financial stability and market performance, aligning it with tech giants like Apple, Microsoft, and Amazon. For shareholders, this milestone could mean increased liquidity and valuation as more investment funds benchmarked to the Nasdaq-100 begin incorporating MicroStrategy’s stock.

2024 has been a banner year for MicroStrategy. In addition to its Nasdaq-100 inclusion, the company has maintained an aggressive Bitcoin acquisition strategy. Between November and December, the firm has made up to seven different purchases.

The company’s founder, Michael Saylor, who is also a prominent Bitcoin advocate, has consistently argued that Bitcoin represents the best long-term hedge against inflation and economic uncertainty.

On December 21, he introduced a Digital Assets Framework for the United States, advocating for the creation of a Bitcoin reserve that he claims could generate up to $81 trillion in revenue for the country’s Treasury.

In a post on X, Saylor stated that the proposed reserve framework would enhance the country’s fiat currency, “address the national debt, and position the United States as a global leader in the digital economy of the 21st century.”