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The company led by Michael Saylor, MicroStrategy, now has an amount of 402,100 bitcoins on its corporate balance sheets. This figure is officially reached after learning of a new purchase of coins by the firm. This is a new step in the ambitious goal of reaching 1M coins in the long term.
In a post on his X account, the company’s CEO Saylor reported on the new token acquisition. In total, the company purchased 15,400 new BTC at a cost of $1.5 billion. Meanwhile, the cost of the purchase was $95,976 dollars for each coin, the businessman explained.
In the same text, Saylor explains that so far in the fourth quarter of 2024, the company’s BTC investment performance has reached +38.7%. Meanwhile, so far in 2024 this performance marks +63.3%. The total possession, as stated at the beginning, is 402,100 coins, the total purchase price of which is $23.4 billion.
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On average, each BTC from Saylor’s company has an investment price of $58,263. With this, the success of the Bitcoin standard that this firm has applied since 2020 is once again evident. In that relatively short period, the company went from gray territory to becoming one of the most solid in the financial world.
MicroStrategy has acquired 15,400 BTC for ~$1.5 billion at ~$95,976 per #bitcoin and has achieved BTC Yield of 38.7% QTD and 63.3% YTD. As of 12/2/2024, we hodl 402,100 $BTC acquired for ~$23.4 billion at ~$58,263 per bitcoin. $MSTR https://t.co/K3TK4msGp0
— Michael Saylor⚡️ (@saylor) December 2, 2024
Will MicroStrategy be able to buy 1 million bitcoins?
According to Michael Saylor, the long-term plan for MicroStrategy is to buy as many bitcoins as possible. It seems clear that the company’s biggest goal is to reach the 1 million coin milestone in the long term. This is a huge sum, considering that the total supply of the token is just 21 million coins.
Simply put, if 22 of the largest companies in the S&P500 wanted to achieve the same goal in the future, they simply couldn’t do it. Precisely in this mathematical scarcity lies the importance of Bitcoin as a reserve asset.
As its popularity increases in the financial world, the demand will be huge. It should not be lost sight of that the circulation of BTC is much less than 21 million. This is due to lost coins, which are estimated at 20%, according to sites like Chainalysis.
With this in perspective, it can be said that the pioneering companies in the purchase of bitcoins, such as MicroStrategy, have the race won. As time goes by, companies and countries will want to add BTC to their reserves, which means that each satoshi (fraction) will be traded at high prices.
Both companies and individuals who buy now, no matter how low that amount may seem, are assured that in the future they will be able to obtain enormous returns. In that sense, it should not be surprising that companies like Marathon, MicroStrategy and others have no qualms about buying large quantities of bitcoins at a price close to all-time highs.
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