The company now holds 331,200 bitcoin, acquired since August 2020 for approximately US$16.5 billion.
MicroStrategy has acquired 51,780 BTC for ~$4.6 billion at ~$88,627 per #bitcoin and has achieved BTC Yield of 20.4% QTD and 41.8% YTD. As of 11/17/2024, we hodl 331,200 $BTC acquired for ~$16.5 billion at ~$49,874 per bitcoin. $MSTR https://t.co/SRRtRrB2jO
— Michael Saylor⚡️ (@saylor) November 18, 2024
The technology firm funded the acquisition by selling 13.6 million shares through its at-the-market program. According to Monday’s regulatory filing, MicroStrategy maintains capacity to sell an additional US$15.3 billion in stock under the current program.
This purchase follows last week’s acquisition of 27,200 bitcoin for US$2 billion — bringing the company’s total recent purchases to approximately 72,000 bitcoin worth US$6.6 billion.
MicroStrategy CEO Michael Saylor teased the latest Bitcoin purchase on social media over the weekend. At current prices near US$90,000 per bitcoin, the company’s total holdings are valued at nearly US$30 billion.
The company’s stock price has increased nearly 400% year-to-date, despite a 1% decline in premarket trading following the announcement.
MicroStrategy’s continued bitcoin acquisitions signal growing institutional investment in cryptocurrency, potentially influencing other corporate treasury strategies.
Also Read — Why Bitcoin makes smart business sense for enterprises of all sizes
