MicroStrategy added $4.6b in Bitcoin to holdings

Software developer MicroStrategy has continued Michael Saylor’s aggressive Bitcoin purchasing strategy, increasing its holdings to over 331,200 BTC.

MicroStrategy’s latest Bitcoin (BTC) purchase doubles its previous purchase announced last week, reaching $4.6 billion, according to disclosure documents. The company purchased 51,780 BTC at an average price of $88,627 per coin, as confirmed by chairman and founder Michael Saylor.

MicroStrategy purchased 51,780 BTC at ~$88,627 for ~$4.6B. #bitcoin and achieved a BTC Return of 20.4% QTD and 41.8% YTD. We hold 331,200 units as of 17.11.2024 $BTC Bought for ~$16.5 billion at ~$49,874 per Bitcoin. $MSTR https://t.co/SRRtRrB2jO

— Michael Saylor⚡️ (@saylor) 18 November 2024

The average purchase price was less than 5% below BTC’s all-time high of $93,477. With this latest acquisition on November 18, MicroStrategy has spent $16.5 billion on its Bitcoin strategy and is now generating over $13 billion in unrealized profits from its crypto assets.

Saylor first announced his Bitcoin purchasing strategy in 2020, following the global pandemic. Since then, MicroStrategy has become the largest institutional holder of BTC, amassing nearly $30 billion in the cryptocurrency.

24-hour BTC price chart – November 18 | Source: crypto.news

MSTR’s BTC roadmap has also been expanded to include one of Wall Street’s most ambitious capital raising efforts. Saylor aims to raise $42 billion to buy more BTC over the next three years. The company has already leveraged loans, loans, and share sales to finance a potentially endless cycle of BTC purchases.

Four years of consistent acquisitions have placed Saylor’s MicroStrategy ahead of other private organizations and even nations like the United States. More companies have embraced this thesis and added Bitcoin to their balance sheets and portfolios.

In May, Semler Scientific announced its Bitcoin Treasury strategy. Artificial intelligence startup Genius Group made its first BTC purchase last week, and Thumzup Media Corp joined the bandwagon in November. Tokyo-based Metaplanet holds more than 1,000 BTC and recently announced plans to increase its BTC balance.