Another bulk buy for 55,500 BTC (worth $5.4 million)

The business intelligence giant founded and led by Michael Saylor has done it again on Monday, breaking its own record for the largest bitcoin purchase.

In this week’s edition, MicroStrategy said it bought 55,500 BTC for an average price of just under $98,000.

MicroStrategy has acquired 55,500 BTC for ~$5.4 billion at ~$97,862 for #bitcoin and has achieved a BTC return of 35.2% QTD and 59.3% YTD. As of 11/24/2024, we have 386,700 $BTC acquired for ~$21.9 billion at ~$56,761 per bitcoin. $MSTR https://t.co/79ExzXk4UM

— Michael Saylor⚡️ (@saylor) November 25, 2024

It has now become almost a tradition: the trading week begins with a prominent BTC purchase in the world’s largest holder of the asset.

After last week’s $4.6 billion (51,780 BTC) acquisition, which Saylor himself labeled as the largest bitcoin purchase ever, the company is on a tear again, breaking its own record.

The former CEO of MicroStrategy announced the latest purchase of 55,500 BTC, worth approximately $5.4 billion, at an average price of $97,862 per bitcoin. This puts the company’s total holdings at 386,700 BTC, bought at an average price of $56,761.

In total, the company has spent nearly $22 billion to acquire its cryptocurrency fortune. Given BTC’s current price of roughly $98,000, that deposit is now worth nearly $38 billion, or over $16 billion in paper profits.

MicroStrategy’s share prices have remained flat since the introduction of the bitcoin strategy. Since the beginning of the year alone, MSTRs have soared by more than 500%, despite the recent decline.

Interest in MSTR has also increased, as there are certain examples where trading volumes have exceeded those of Apple, Amazon and Meta combined.

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