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In a recent tweet, Michael Saylor, the executive chairman and co-founder of MicroStrategy, highlighted the company's record-breaking Bitcoin achievement in the past year: the acquisition of 258,320 BTC.
Saylor disclosed that MicroStrategy acquired 258,320 BTC for $22.07 billion in 2024, at an average price of nearly $85,450 per BTC. This acquisition resulted in a remarkable 74.3% BTC yield for the year. Starting the year 2024 with 189,150 BTC, MicroStrategy realized a BTC gain of 140,630 BTC, averaging 385 BTC per day.
MicroStrategy's bold Bitcoin bet in the past year has paid off in a big way. According to Saylor, at the current price of $100,000 per BTC, this translates to shareholder value creation of $14.06 billion for the year, or $38.5 million per day. With this, MicroStrategy has proven that a Bitcoin-focused corporate strategy can drive massive returns.
Tomiwabold OlajideIn a tweet earlier today, Saylor reminisced about the company's Bitcoin strategy, posting SaylorTracker, a popular graph that tracks the firm’s buys, alongside the caption, "This all started with a single green dot."
On Monday, MicroStrategy reported the acquisition of 1,070 BTC for nearly $101 million, or nearly $94,004 per Bitcoin, increasing its total Bitcoin holdings to 447,470 BTC as of Jan. 5, 2025.
What's next for Bitcoin price?
Following a seven-day price rise, Bitcoin reached a high of $102,500 on Monday. The surge reached highs of $102,735 in today's trading session before encountering resistance and declining.
At the time of writing, BTC was slightly up 0.32% in the last 24 hours to $100,600.
According to Ali, a crypto analyst: "Bitcoin sits well above an important support zone between $95,400 and $98,400, where 1.77 million addresses bought over 1.53 million $BTC. However, there isn't significant resistance ahead, only a minimal supply wall of 107,000 BTC between $104,700 and $105,770."
Glassnode founders who go by "Negentropic" on X indicated that "eyes are on the $101,500-$102,500 consolidation zone. A retest of the psychological $100,000 level will decide maybe a hold above $90,000 to $100,000 or a revisit the lower range."
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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