MicroStrategy Acquires 7,633 BTC For $742 Million, MSTR Stock Rebounds

Highlights

MicroStrategy has made its first Bitcoin purchase since rebranding to Strategy.
The company now holds 478,740 BTC.

Michael Saylor’s MicroStrategy has announced another Bitcoin purchase, bringing its total BTC holdings to 478,740. This is the company’s first Bitcoin purchase since it rebranded to Strategy, a move that reaffirmed its BTC strategy. Meanwhile, the MSTR stock has rebounded following this development.

MicroStrategy Acquires 7,633 BTC For $742 Million

In a press release, MicroStrategy, now doing business as Strategy, announced that it has acquired 7,633 BTC for $742 million at an average price of $97,255 per Bitcoin and has achieved a BTC yield of 4.1% year-to-date (YTD).

The software and Bitcoin treasury company further revealed that it now holds 478,740 BTC, which it acquired for $31.1 billion at an average price of $65,033 per Bitcoin. This recent purchase is MicroStrategy’s first since it rebranded to ‘Strategy.’

As part of the rebrand, the company also unveiled its new logo, which featured a Bitcoin symbol, signifying its BTC strategy and “unique position as a Bitcoin Treasury company.”

Meanwhile, while revealing its Q4 2024 earnings, the company announced that it has revised its annual BTC Yield target to a minimum of 15% for 2025. Strategy also plans to take its evolution further with the introduction of the “BTC $ Gain KPI.”

The software company will also likely continue to make more BTC purchases in the weeks to come as it announced that it has completed $20 billion of its $42 billion capital plan, significantly ahead of the initial timelines.

The software company is currently the public company with the largest Bitcoin holding, well ahead of MARA Holdings, which currently holds 26,000 BTC.

MSTR Stock Rebounds

Nasdaq data shows that the MSTR stock price has rebounded following MicroStrategy’s latest Bitcoin purchase. The stock price is up over 2% and is trading at around $334. The Bitcoin purchase undoubtedly provides a bullish outlook for the stock, which is the best-performing asset since the company announced its Bitcoin strategy.

Meanwhile, the stock is up over 13% year-to-date (YTD), having rebounded from the decline witnessed at the end of last year. Meanwhile, the Bitcoin price has also rebounded today, reclaiming the $98,000 support level, having dropped to as low as $95,000 last week Friday.

Other Bitcoin Whales Are Also Making Their Moves

Other Bitcoin whales, like MicroStrategy, are also making their moves. Whale Alert data shows whales moved 2,500 BTC moved from Kraken to Bitfinex. Meanwhile, investors moved 4,419 BTC from Kraken to an unknown wallet.

Another whale also moved 1,602 BTC from an unknown wallet to another. Investors also moved 4,664 BTC from unknown wallets, a move that typically indicates that they are looking to offload their holdings.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several niches. His speed and alacrity in covering breaking updates are second to none. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.

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