- MicroStrategy Acquires 27,200 Bitcoin in Two Weeks, Solidifying Its Position as the Largest Corporate BTC Holder
MicroStrategy, the leading business intelligence company, has acquired more than 27,000 BTC in less than two weeks, further cementing its status as the largest corporate holder of Bitcoin. As of November 11, 2024, MicroStrategy now holds a total of 279,420 BTC, valued at approximately $22.87 billion.
MicroStrategy’s Recent Bitcoin Purchase: A Strategic Expansion
Between October 31, 2024, and November 10, 2024, MicroStrategy purchased 27,200 BTC at an average price of $74,463 per Bitcoin, spending a total of around $2.03 billion. The acquisition was funded by proceeds from recent stock sales, demonstrating MicroStrategy’s continued commitment to its Bitcoin investment strategy.
This latest purchase pushes MicroStrategy’s total Bitcoin holdings to nearly 280,000 BTC, with an average purchase price of $42,692 per Bitcoin. As Bitcoin’s current price stands at $81,873, the company’s BTC portfolio has seen a significant appreciation, increasing its value by more than $11 billion since the time of purchase.
MicroStrategy has acquired 27,200 BTC for ~$2.03 billion at ~$74,463 per #bitcoin and has achieved BTC Yield of 7.3% QTD and 26.4% YTD. As of 11/10/2024, we hodl 279,420 $BTC acquired for ~$11.9 billion at ~$42,692 per bitcoin. $MSTR https://t.co/uCt8nNUVqd
— Michael Saylor⚡️ (@saylor) November 11, 2024
Performance of MicroStrategy’s Bitcoin Portfolio
MicroStrategy’s Bitcoin holdings have performed well in recent months. According to the company’s report, its Bitcoin portfolio has surged by 7.3% since the beginning of the fourth quarter of 2024 (October 1 to November 10) and 26.4% year-to-date (YTD). The company has experienced consistent growth in the value of its Bitcoin assets since it made its first Bitcoin purchase in August 2020, reflecting the broader bullish trend in the cryptocurrency market.
Since that first purchase, MicroStrategy has continued to accumulate Bitcoin, with a clear focus on positioning itself as the top corporate holder. As Bitcoin continues to trade near record highs, MicroStrategy’s massive BTC holdings are proving to be a lucrative investment for the business intelligence giant.
MicroStrategy’s Bold Plans to Raise $42 Billion for Bitcoin Acquisitions
MicroStrategy’s commitment to Bitcoin doesn’t stop with its recent acquisition. The company has plans to raise a massive $42 billion over the next three years to expand its Bitcoin holdings further. This ambitious strategy involves issuing fixed-income securities and conducting equity sales under what’s called the “21/21 plan,” with $21 billion coming from each method.
This large-scale funding effort underscores MicroStrategy’s bullish outlook on Bitcoin and its strategy of treating the cryptocurrency as a long-term asset. By raising these funds, the company aims to capitalize on Bitcoin’s potential growth while maintaining its dominant position in the corporate BTC space.
MicroStrategy’s Market Impact and Outlook
With Bitcoin currently priced at $81,873, representing a weekly increase of 18.67%, MicroStrategy’s latest move aligns with the growing optimism surrounding the cryptocurrency. As the largest corporate holder of Bitcoin, the company’s activities often make waves in the market, influencing both investor sentiment and Bitcoin’s broader adoption as an institutional asset.
The company’s ability to raise billions to continue its Bitcoin buying spree further reinforces the growing trend of institutional adoption of cryptocurrency. As MicroStrategy continues to lead the charge, its strategic moves will likely shape the future of corporate crypto investments and further legitimize Bitcoin as a store of value.
MicroStrategy’s latest Bitcoin acquisition reflects both its commitment to Bitcoin as a core asset and the ongoing bullish momentum in the cryptocurrency market. With its substantial holdings and plans to expand further, MicroStrategy remains a dominant player in the evolving landscape of Bitcoin investment.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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