MicroStrategy has reaffirmed its commitment to its Bitcoin acquisition strategy, purchasing an additional 15,400 bitcoins (BTC) for approximately $1.5 billion.

Earlier today, MicroStrategy’s CEO and co-founder, Michael Saylor, took to Twitter to announce and showcase the company’s latest bitcoin acquisition and its total bitcoin holdings, reaffirming its dedication to a long-term bitcoin investment approach.

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

MicroStrategy Now Holds Over 400,000 Bitcoins

The American intelligence company’s latest purchase underscores the company’s unwavering dedication to accumulating the digital asset, bringing its total bitcoin holdings to 402,100 BTC, valued at approximately $23.4 billion.

According to a December 2 SEC filing, MicroStrategy raised $1.48 billion in net proceeds through the sale of 3.7 million Class A common shares under its at-the-market (ATM) equity program. The company used the net proceeds to buy more Bitcoin, another significant milestone in its Bitcoin investment journey.

Is MicroStrategy Poised to Become the Premier Bitcoin Reserve Bank?

In October, Saylor revealed his plans to turn MicroStrategy into a leading Bitcoin bank based on his belief that Bitcoin’s role in the financial ecosystem is multifaceted, serving not only as a store of value but also as a foundation for creating a diverse array of capital market instruments.

He stated, “This is the most valuable asset in the world. The endgame is to be the leading Bitcoin bank or merchant bank, or you could call it a Bitcoin finance company.”

Given MicroStrategy’s aggressive Bitcoin acquisition strategy, it appears to be on track to realize its ambitious goal of establishing itself as a premier Bitcoin bank.

Last week, MicroStrategy significantly expanded its bitcoin holdings, acquiring 55,500 bitcoins through a $5.4 billion investment.

In recent times, likely fueled by Bitcoin’s sustained price appreciation and escalating institutional interest, a growing number of institutional investors are intensifying their Bitcoin accumulation efforts. Genius Group, an innovative education technology firm, announced its commitment to a “Bitcoin-first” policy. The company will invest at least 90% of its treasury reserves in Bitcoin.

Today, Genius Group spent $1.8 million to expand its treasury reserve, bringing its total holdings to 172 Bitcoin valued at $15.8 million.