Software Company MicroStrategy has increased its holdings to over 331,200 BTC by carrying on Michael Saylor’s aggressive Bitcoin purchasing strategy.
Source: CryptoPotato
Key Points:
- At an average price of $88,627 per bitcoin, MicroStrategy has gained an additional 51,780 BTC for over $4.6 billion.
- The most recent purchases coincide with the 13,593,865 shares of MicroStrategy being sold for the same price.
The $4.6 billion Bitcoin buy doubled the size of its first acquisition that was revealed last week. The company’s founder and executive chair, Michael Saylor, acknowledged that it purchased 51,780 bitcoins at an average price of $88,627 per coin.
MicroStrategy Increases Bitcoin Holdings
MicroStrategy’s Executive chair, Michael Saylor, disclosed in a post on X that the company purchased 51,780 Bitcoins for about $4.6 billion, with an average price of $88,627 per Bitcoin. This calculated action solidifies the company’s standing as the biggest institutional Bitcoin owner.
MicroStrategy has acquired 51,780 BTC for ~$4.6 billion at ~$88,627 per bitcoin and has achieved a BTC yield of 20.4% QTD and 41.8% YTD. As of 11/17/2024, we hodl 331,200 BTC acquired for ~$16.5 billion at ~$49,874 per bitcoin. $MSTR https://t.co/SRRtRrB2jO
— Michael Saylor⚡️ (@saylor) November 18, 2024
MicroStrategy now owns 331,200 Bitcoin, which it purchased for $16.5 billion at an average price of $49,874 per Bitcoin as of November 17, 2024. The company recorded a Bitcoin yield of 41.8% year-to-date (YTD) and 20.4% quarter-to-date (QTD). The group said it had purchased $2.03 billion worth of Bitcoin earlier last week.
Source: Michael Saylor X Post
To increase its Bitcoin holdings, Japanese publicly traded company Metaplanet has announced plans to issue bonds totaling $11.3 million.
How much money has MicroStrategy staked in Bitcoin?
The most recent purchase by MicroStrategy coincides with the ongoing rise in bitcoin prices, which recently surpassed $90,000 and reached new all-time highs. With a total investment of over $16.5 billion, the company’s average acquisition cost for all of its bitcoin assets is about $49,874 per bitcoin.
MicroStrategy sold over 13.6 million of its shares to finance this latest bitcoin investment. Its current “21/21 plan,” an ambitious fundraising effort to raise $42 billion through equity and fixed-income securities over the next three years, is in line with this approach.
MicroStrategy’s bitcoin reserve strategy is now publicly available. Other publicly traded businesses, has also used this approach such as Semler Scientific (SMLR) and Marathon Digital Holdings (MARA).
