MicroStrategy (MSTR) has just purchased an additional 15,350 BTC for $1.5 billion, paying an average of $100,386 per Bitcoin, according to its latest disclosure. This brings its total holdings to a staggering 439,000 BTC, worth $45.6 billion at current prices. The funds for this purchase came from MicroStrategy’s at-the-market (ATM) share sales program, leaving the company with $7.65 billion remaining under this program.
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This move follows a now-predictable trend, with Executive Chairman Michael Saylor often teasing Bitcoin purchases on Sundays before official announcements on Monday mornings. Over the past five weeks, the company has reportedly purchased 171,430 BTC worth $15.61 billion as part of its “21/21 plan.”
Nasdaq Inclusion Boosts Momentum
The Bitcoin buying spree aligns with MicroStrategy’s inclusion in the Nasdaq 100, which is set to take effect on December 23. This milestone is a huge win for the company and shows that its strategy is getting noticed. The announcement has also lifted MicroStrategy’s stock, which rose 4% in pre-market trading to $425 per share.
Fair Value Accounting Could Change the Game
The timing of these purchases also coincides with a favorable shift in accounting rules. Starting Fiscal 2025, companies can apply fair value accounting for digital assets. This means Bitcoin holdings can reflect both gains and losses in net income, a departure from older rules that only recognized impairments.
MicroStrategy isn’t alone. Semler Scientific (SMLR), another Bitcoin holder, recently acquired 211 BTC for $421.5 million, raising its total holdings to 2,084 BTC. These developments reflect a growing institutional embrace of Bitcoin, with MicroStrategy leading the charge.
Is MicroStrategy a Buy Right Now?
Analysts remain optimistic about MSTR stock, with a Strong Buy consensus rating based on a unanimous eight Buys. Over the past year, MSTR has increased by more than 645%, and the average MSTR price target of $529.57 implies an upside potential of 24.9% from current levels.
