MicroStrategy buys another 5,262 BTC before joining Nasdaq-100

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MicroStrategy announced Monday it had acquired 5,262 Bitcoin worth $561 million between December 16-22, marking its seventh consecutive week of Bitcoin purchases ahead of its inclusion in the Nasdaq-100 index.

MicroStrategy funded its Bitcoin purchase by selling shares of its own stock, according to a Monday SEC filing.

Between December 16 and 22, the Tysons, Virginia-based company sold 1,317,841 shares, generating approximately $561 million in net proceeds. MicroStrategy still has around $7 billion worth of shares available to sell under their sales agreement as of December 22, 2024, indicating potential for further funding through stock sales.

The company’s total Bitcoin holdings now stand at around 444 BTC, valued at $42.7 billion at current market prices, representing over 2% of Bitcoin’s total supply.

MicroStrategy shares have surged 476% year-to-date, making it one of Nasdaq’s top performers in 2023. This performance helped qualify the company for inclusion in the Nasdaq-100 index, which takes effect ahead of market opening today.

Nasdaq announced its annual reconstitution of the Nasdaq-100 index on December 13, adding MicroStrategy alongside Palantir Technologies and Axon Enterprise.

The market responded positively to the news, with MicroStrategy’s stock price rising 11.5% to $364 at Friday’s close, according to Yahoo Finance data.

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