Oh nice. It’s a hot deal right now. 24500 points for me.
https://account.microsoft.com/rewards/redeem/000400000336
Note however, that if 12 months of Xbox Live Gold go on sale for 22500 about twice a year, that’s a better deal, because it translates to 4 months of Ultimate, and obviously 22500 is less than 24500, and you’re getting an extra month for it.
On the other hand, maybe they’ll stop having those sales on 12 months of Gold now?