MicroStrategy continues to expand its substantial Bitcoin holdings, showing a steadfast commitment to the cryptocurrency despite recent price highs.
On Nov. 11, the business intelligence giant, now a major Bitcoin investor, announced a purchase of 27,200 BTC for approximately $2.03 billion in cash. The acquisition was made between Oct. 31 and Nov. 10, with an average price of $74,463 per Bitcoin, including associated fees and expenses.
With this latest addition, MicroStrategy’s total Bitcoin holdings now stand at 279,420 BTC, valued at around $23 billion at current market prices.
Selling shares to buy more Bitcoin
To fund these purchases, MicroStrategy utilized proceeds from issuing and selling shares. The company disclosed sales agreements with multiple firms on Aug. 1 and Oct. 30, leading to the sale of roughly 7.8 million shares, generating around $2 billion by Nov. 10.
MicroStrategy also reported a BTC yield — a performance indicator of its Bitcoin strategy — of 7.3% between Oct. 1 and Nov. 10, with a year-to-date yield of 26.4%.
The company’s share price surged after Donald Trump’s victory in the U.S. presidential election on Nov. 5. By Nov. 8, MicroStrategy’s stock had climbed by 19.9%, reflecting positive market sentiment following Trump’s confirmed win.
MicroStrategy’s Bitcoin ROI surpasses 100%
In addition, the “Saylor Tracker,” a Bitcoin portfolio tracker named after MicroStrategy’s executive chairman Michael Saylor, indicated that the company’s return on investment in Bitcoin exceeded 100% on Nov. 10. The tracker showed the value of MicroStrategy’s Bitcoin holdings had surpassed $20.5 billion even before the latest purchase.
Data from BitcoinTreasuries reveals that MicroStrategy has made 42 Bitcoin purchases, averaging $39,292 per BTC. The company remains the largest corporate Bitcoin holder, with Marathon Digital and Riot Blockchain trailing with Bitcoin holdings valued at approximately $2.1 billion and $840 million, respectively.
For more news, find me on Twitter Giannis Andreou and subscribe to My channels Youtube and Rumble
What is your opinion on this particular topic? Leave us your comment below! We are always interested in your opinion!
