MicroStrategy has expanded its Bitcoin holdings by acquiring 51,780 BTC for $4.6 billion at an average price of $88,627 per coin.
MicroStrategy appears to have no constraints regarding its capacity to expand its exposure to Bitcoin (BTC). It most recently acquired 51,780 BTC, which is equivalent to an astonishing $4.6 billion.
MicroStrategy Purchase Plan
Michael Saylor, the former CEO of MicroStrategy who currently serves as Executive Chairman, announced the most recent acquisition. He stated that the cache was acquired at an average cost of $88,627 per asset.
MicroStrategy has acquired 51,780 BTC for ~$4.6 billion at ~$88,627 per #bitcoin and has achieved 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
This has resulted in the business intelligence software colossus holding a total of 331,200 BTC.
This amounts to an impressive $29.7 billion when calculated at the current rate. The current paper profit exceeds $13 billion, as the entire investment was acquired for approximately $16.5 billion.
MicroStrategy has become the largest corporate holder of Bitcoin, incorporating the cryptocurrency into its financial strategy.
In the previous week, the company disclosed plans to invest $42 billion over the next three years in order to augment its balance sheet with additional assets. Additionally, it acquired another substantial amount of Bitcoin (BTC) for over $2 billion.
In August 2020, MicroStrategy initiated the accumulation of Bitcoin (BTC) at a valuation of approximately $11,000.
The US presidential elections were won by Donald Trump earlier this month, which resulted in a significant bull run for the entire cryptocurrency market. In the aftermath, BTC’s valuation reached an all-time high of over $93,000 on November 13, and it is presently trading at approximately $90K.
