MicroStrategy (MSTR) made big news in 2024 with its aggressive Bitcoin buying, adding 258,320 to its stack.
Tech firm MicroStrategy (NASDAQ:MSTR) made headlines in 2024 with its aggressive Bitcoin (BTC) buying, adding 258,320 to its stack.
What Happened: In total, the company now holds 447,470 BTC, which were acquired at an average price of $62,503 per coin, according to Executive Chairman Michael Saylor. Those purchases are worth $27.97 billion and have added $14 billion to shareholder value.
“We will continue to use digital assets for long-term growth as part of our capital allocation strategy, highlighting Bitcoin’s role in corporate treasury strategies,” Saylor said on X (NYSE:TWTR) Spaces.
Saylor also shared some interesting statistics. MicroStrategy's Bitcoin purchases have helped the company get into the Nasdaq 100, which is a sign that Bitcoin-focused companies are going mainstream.
Moreover, MicroStrategy's strategy has also inspired other companies to add Bitcoin to their balance sheets. Some of these companies include Block (NYSE:SQ), Tesla (NASDAQ:TSLA) and Galaxy Digital (NYSE:GLXY).
As Bitcoin moves into corporate and national strategies, MicroStrategy is showing the way.
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