In a bold move that reinforces its position as the largest corporate holder of Bitcoin, MicroStrategy has announced a massive acquisition of the world's leading cryptocurrency. The company revealed that it purchased approximately 27,200 bitcoins between October 31 and November 10, 2024, for a staggering $2.03 billion.
This latest investment brings MicroStrategy's total Bitcoin holdings to around 279,420 coins, acquired at an average price of $42,692 per bitcoin. The company's aggregate investment in the digital asset now stands at approximately $11.9 billion.
The recent purchase was made at an average price of $74,463 per bitcoin, reflecting the cryptocurrency's significant price appreciation since MicroStrategy began its Bitcoin acquisition strategy. The funds for this substantial buy were raised through the issuance and sale of company shares under existing Sales Agreements.
MicroStrategy's consistent accumulation of Bitcoin aligns with its self-proclaimed status as the world's first Bitcoin Treasury Company. This latest acquisition further cements the firm's commitment to using Bitcoin as a primary treasury reserve asset.
The company also reported on its BTC Yield, a key performance indicator. From October 1 to November 10, 2024, MicroStrategy's BTC Yield was 7.3%, while the year-to-date yield from January 1 to November 10, 2024, stood at an impressive 26.4%.
As MicroStrategy continues to expand its Bitcoin holdings, it remains at the forefront of corporate cryptocurrency adoption. This substantial investment is likely to draw attention from both the crypto community and traditional financial markets, potentially influencing other companies' strategies regarding digital assets.