MicroStrategy Announces Massive $1.1 Billion Bitcoin (BTC) Purchase

Michael Saylor, the co-founder and current chairman of MicroStrategy, announced his company’s latest massive BTC purchase.

With it, the business intelligence software giant’s total Bitcoin holdings soared to 244,800 BTC, worth more than $14 billion at today’s prices.

MicroStrategy has acquired 18,300 BTC for ~$1.11 billion at ~$60,408 per #bitcoin and has achieved a BTC return of 4.4% QTD and 17.0% YTD. As of 12/9/2024, we have 244,800 $BTC acquired for ~$9.45 billion at ~$38,585 per bitcoin. $MSTR https://t.co/WBBRSKxA1U

— Michael Saylor⚡️ (@saylor) September 13, 2024

The world’s largest corporate holder of Bitcoin spent just over $1.1 billion for its purchase of 18,300 BTC at an average price of $60,408 apiece.

According to data through September 12, the company now has 244,800 BTC, which it acquired for $9.45 billion. That means the company now has an unrealized profit of nearly $5 billion. This is because its average acquisition price is $38,585 per bitcoin.

Let’s recall that MicroStrategy started its BTC accumulation strategy just over four years ago, in August 2020. The company hasn’t looked back since then, with frequent new purchases.

Saylor, who stepped down as the company’s CEO a few years ago, has previously stated that he will “buy Bitcoin forever.” It has become one of the most prominent BTC bulls, predicting massive price tags for the asset of up to $13 million for one.

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