MicroStrategy Buys Another 27,200 Bitcoin for $2.03B, As Its BTC Holdings Near 280K
Leading business intelligence company MicroStrategy solidifies its position as the largest corporate holder of Bitcoin, as it acquires more than 2,000 BTC in less than two weeks. MicroStrategy made this known in a press release today, providing insight into its Bitcoin holdings. Michael Saylor, the companys executive chairman, also confirmed the development on X. https://twitter.com/saylor/status/1855959543508828428MicroStrategy's Latest Bitcoin Purchase According to the report, the company purchased a total of 27,200 BTC in less than two weeks, specifically between October 31, 2024 and November 10, 2024. It acquired each BTC at an average price of $74,463, bringing the total cost to about $2.03 billion. Notably, MicroStrategy funded the 27,200 Bitcoin purchase with proceeds from its recent stock sales. Following the latest acquisition, MicroStrategy now holds a total of 279,420 Bitcoin as of November 11, 2024. The company acquired the assets at an aggregate price of $11.9 billion, costing an average of $42,692 per BTC. With Bitcoin priced at $81,873, MicroStrategys Bitcoin stash is currently worth $22.87 billion. Performance of MicroStrategy Bitcoin HoldingsThe report also shed light on the performance of MicroStrategys Bitcoin holdings. Notably, MicroStrategys Bitcoin portfolio has soared 7.3% since the beginning of Q4 2024 (October 1 to November 10) and 26.4% year-to-date (YTD). Since MicroStrategy made its first Bitcoin purchase in August 2020, the company has continued to grow its BTC holdings, solidifying its position as the largest corporate holder of BTC. MicroStrategy to Raise $42B to Buy Bitcoin Meanwhile, the latest purchase comes weeks after the company revealed plans to raise $42 billion over the next three years to increase its BTC holdings. As reported earlier, MicroStrategy plans to raise the funds from fixed-income securities issuance and equity sales on a 21/21 plan. This suggests that the company would raise $21 billion from equity sales and another $21 billion from fixed-income securities. In the meantime, Bitcoin is trading at $81,873, representing a weekly growth of 18.67%.
Text source: The Crypto Basic
