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MicroStrategy makes new purchase of Bitcoins and exceeds 300 thousand BTC in cash
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MicroStrategy announced another Bitcoin (BTC) purchase just a week after purchasing 27,200 BTC. This time, according to founder Michael Saylor’s tweet, the company added another 51,780 BTC, paying US$4.6 billion.
The latest purchase brings the company’s holdings to 331,200 and further cements its position as one of the largest Bitcoin holders. It is the first time in history that a publicly listed company has 300,000 BTC in custody.
This was the largest single Bitcoin acquisition MicroStrategy has made since it began acquiring the cryptocurrency in 2020.
In a press release, the company announced the purchase of 51,780 BTC, for which it paid US$4.6 billion. The average transaction price was US$88,627 per BTC. With the cryptocurrency being worth around $91,000 at current prices. This means that the new purchase has already started out profitable.
Company adds 51,780 Bitcoin
Furthermore, the company also achieved a BTC yield of 20.4% in the quarter and 41.8% in 2024. In total, MicroStrategy paid US$16.5 billion for its 331,200 BTC – an average price of US$ 49,875 per coin.
MicroStrategy is currently the fifth largest holder of Bitcoin. Only Satoshi Nakamoto, Binance, BlackRock and Grayscale outperform the company. With this new purchase, Michael Saylor’s company accumulates 1.2% of the total Bitcoin supply.
Its most recent purchase came just a week after the company added another 27,200 BTC to cash. The software company also revealed its intention to raise $42 billion and buy more BTC over the next three years.
This recent purchase again provides a bullish outlook for the Bitcoin price as the company continues to bet more on the cryptocurrency, in line with its “Bitcoin Strategy”.
MicroStrategy (MSTR) shares fell more than 4% in pre-market trading, but BTC buying revived investors. At the close of this article, the shares registered an increase of 9% and were worth US$369.83. The stock has already accumulated gains of 442% in 2024.
According to analysts, MicroStrategy’s network effect shows that it is almost impossible for any other publicly traded company to reach the company’s BTC reserves at this time.
MicroStrategy makes new purchase of Bitcoins and exceeds 300 thousand BTC in cash
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MicroStrategy makes new purchase of Bitcoins and exceeds 300 thousand BTC in cash
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MicroStrategy makes new purchase of Bitcoins and exceeds 300 thousand BTC in cash
