The co-founder of MicroStrategy disclosed the amount of Bitcoin that the software firm purchased in the year 2024. Additionally, Saylor discussed the yield from Bitcoin that they earned due to the outstanding performance of the leading cryptocurrency during the previous year.
MicroStrategy Bought $22 Billion Worth Of BTC In 2024
In a recent post on X, Saylor disclosed that MicroStrategy purchased approximately 258,320 Bitcoins for approximately $22.07 billion in the year 2024. This equated to an average price of about $85,450 per Bitcoin. Additionally, he mentioned that his firm realized a BTC return of around 74.3% during the previous year.
In 2024, the company owned 189,150 Bitcoins and made a profit of 140,630 Bitcoins, equivalent to a daily gain of approximately 385 Bitcoins. Saylor highlighted that if the Bitcoin price was $100,000, this would amount to a yearly shareholder value creation of around $14.06 billion or about $38.5 million per day.
As an analyst, I’d like to highlight that the majority of our company’s Bitcoin acquisitions were made during the final months of the year. Specifically, we embarked on a sustained eight-week purchasing journey, starting in early November and extending all the way until the end of the year.
This run of events continues into the fresh start of the year. Lately, the firm has procured 1,070 Bitcoins at a cost of $101 million. Furthermore, it’s been shared that additional Bitcoin purchases are anticipated this year, as the company has disclosed intentions to gather up to $2 billion for Bitcoin acquisitions.
Bitcoin Held By Corporations Doubled Last Year
According to the latest disclosure from Bitwise’s Head of Research, Ryan Rasmussen, it was found that the quantity of Bitcoin owned by corporate entities has more than doubled within the past year. Specifically, in the last quarter of 2023, these corporations collectively held approximately 262,635 Bitcoins.
In the first quarter of 2024, I observed a 6% growth in the BTC held by these corporations, bringing the total to approximately 279,639 units. This figure experienced a subsequent surge of 15% in the second quarter of 2024, reaching 321,224. In the third quarter of 2024, another significant increase of 13% was noted, propelling the BTC holdings to a total of 361,736 units.
In Q4 of the preceding year, the largest growth (representing approximately 63%) was observed, with these corporations collectively holding around 590,649 BTC. Rasmussen highlighted that MicroStrategy played a significant role in this achievement, although it should be noted that companies such as Metaplanet and Marathon Digital also made substantial contributions.
Besides companies such as KULR, others have entered the scene, establishing a Bitcoin reserve. The company recently disclosed an expansion of their BTC reserve to $42 million, reporting a return of 93%.
On Corporations Buying BTC
The Chief Investment Officer at Bitwise, Matt Hougan, recently expressed his viewpoint about corporations purchasing Bitcoin. He emphasized that this trend is far more significant than many might assume.
Previously mentioned, he emphasized that these businesses constituted one of the three relentless demand providers by the year 2025. The other two being Exchange-Traded Funds (ETFs) and administrations.
According to Hougan and Bitwise’s forecast, the price of Bitcoin might soar as high as $200,000 this year due to these driving factors. Furthermore, Hougan also speculated that Bitcoin could potentially hit $500,000 if the Strategic Bitcoin Reserve becomes a reality.
Read More
- EUR CAD PREDICTION
- EUR MYR PREDICTION
- USD RUB PREDICTION
- LUNC PREDICTION. LUNC cryptocurrency
- EUR ARS PREDICTION
- OKB PREDICTION. OKB cryptocurrency
- Shiba Inu (SHIB) Whales Selling Rapidly: Details
- CHR PREDICTION. CHR cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- POL PREDICTION. POL cryptocurrency
2025-01-07 18:56