Michael Saylor Highlights Massive 258,320 BTC Milestone: Details

U.Today - 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.

In 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."

Source: Investing.com