MicroStrategy seems to have no limitations in terms of increasing its exposure to Bitcoin (BTC). Most recently, it acquired 51,780 BTC, equaling a staggering $4.6 billion.
The latest purchase was announced by Michael Saylor himself – the former CEO of MicroStrategy who now serves as Executive Chairman. He said the stash was acquired for 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
As a result, the business intelligence software giant now holds a total of 331,200 BTC. Calculated at current rates, this represents a whopping $29.7 billion. The entire investment was acquired for around $16.5 billion, meaning the current paper profit represents more than $13 billion.
MicroStrategy has become the biggest corporate holder of Bitcoin, integrating the cryptocurrency into its financial strategy.
Last week, it unveiled another huge BTC purchase equaling more than $2 billion, Prior to that, the company announced plans to spend $42 billion over the next three years to add even more assets to its balance sheet.
MicroStrategy started accumulating BTC in August 2020 when the valuation hovered around $11,000. Earlier this month, Donald Trump won the US presidential elections, triggering a major bull run for the entire cryptocurrency market. In the aftermath, BTC’s valuation skyrocketed to an all-time high of more than $93,000 on November 13, currently trading at roughly $90K.
The post MicroStrategy Announces Another Massive BTC Purchase for Over $4.5 Billion appeared first on CryptoPotato.
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