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The company invested USD 2 billion to acquire the BTC, at a price of USD 74,463.
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The company’s BTC investment return is 26.4% year-to-date.
MicroStrategy, the technology company led by Michael Saylor, significantly expanded its holdings of Bitcoin (BTC), consolidating itself as the public entity with the largest amount of this digital currency on its balance sheet. The company recently announced the acquisition of 27,200 BTC, bringing its total to around 278,000 bitcoin.
During the period from October 31, 2024 to November 10, 2024, MicroStrategy acquired these 27,200 bitcoin for a total of approximately $2 billion in cash, at an average price of $74,463 per bitcoin, including fees and expenses, as reported in a press release.
This investment reflects an aggressive bitcoin accumulation strategy, which MicroStrategy has followed for several years.
As of November 10, 2024, the company and its subsidiaries have a total of approximately 279,420 bitcoinacquired at an aggregate purchase price of about $11.9 billion and an average price of $42,692 per BTC, also including fees and expenses.
Bitcoin holdings already exceed 279,000 coins. Source: BitcoinTreasuries.
This volume means that MicroStrategy now owns 1 in every 75 bitcoin that will be issued, considering the total limit of 21 million BTC.
The company’s bitcoin investment return has been 26.4% from the start of the year to November 10, 2024, which indicates a notable appreciation in the value of its digital assets.
This figure exceeds the performance of other companies that have also invested in bitcoin, such as Marathon Digital Holdings, with 26,800 BTC, and Tesla, with 9,720 BTC, according to the BitcoinTreasuries data.
MicroStrategy’s strategy not only focuses on the accumulation of bitcoin as a store of value, but also includes the exposure and promotion of bitcoin as part of its corporate policy. This strategy has been emulated by other companies around the world, like the Japanese Metaplanet, which has followed the example of MicroStrategyas CriptoNoticias reported.
Stocks rebounded
Following MicroStrategy’s announcement of the acquisition of 27,200 bitcoins, its shares experienced a notable rebound of 19% in a single day, rising from $267 to $322, according to data provided by TradingView.
MicroStrategy shares rose 19%. Source: TradingView.
This increase in the share price is directly correlated with the bullish behavior of the bitcoin market, which has once again established new all-time highs.
The price of BTC is already approaching USD 85,000. Source: TradingView.
At the time of writing, bitcoin is trading at $84,800, which has boosted not only the perceived value of MicroStrategy’s BTC reserves, but also investor confidence in the company’s strategy. to accumulate BTC as a reserve and long-term growth asset.
This article was created using artificial intelligence and edited by a human Editor.
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