MicroStrategy Announces Another Bulk Buy of BTC for Over $4.5 Billion

MicroStrategy appears to have no limitations when it comes to increasing its exposure to Bitcoin (BTC). Most recently, it acquired 51,780 BTC, equivalent to $4.6 billion.

The latest purchase was announced by Michael Saylor himself, the former CEO of MicroStrategy who now serves as executive chairman. It said storage was acquired for an average cost of $88,627 per asset.

MicroStrategy has acquired 51,780 BTC for ~$4.6 billion at ~$88,627 for #bitcoin and has achieved a BTC return of 20.4% QTD and 41.8% YTD. As of 11/17/2024, we have 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 has a total of 331,200 BTC. Calculated at current rates, that’s a whopping $29.7 billion. The entire investment was acquired for about $16.5 billion, meaning the paper’s current profit is over $13 billion.

MicroStrategy has become the largest corporate holder of Bitcoin, integrating the cryptocurrency into its financial strategy.

Last week, he unveiled another huge BTC purchase that equates to more than $2 billion. Before 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 was around $11,000. Earlier this month, Donald Trump won the US presidential election, sparking a huge bull run for the entire cryptocurrency market. As a result, BTC’s valuation soared to an all-time high of over $93,000 on November 13, currently trading at around $90,000.

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