MicroStrategy has acquired an additional 18,300 Bitcoin for $1.11 billion.

In a continued demonstration of its unwavering dedication to Bitcoin, MicroStrategy has added another $1.11 billion worth of the cryptocurrency to its reserves. The software intelligence firm, under the leadership of Michael Saylor, remains steadfast in its strategy of accumulating the world’s foremost digital asset.

Michael Saylor has long been a vocal proponent of Bitcoin, a stance reflected in MicroStrategy’s consistent efforts to make Bitcoin acquisition a cornerstone of its business model. As a result, the company now boasts a staggering total of 244,800 BTC, which it acquired for over $9.4 billion, according to a recent update shared on X (formerly Twitter).

The Year 2024: A Crucial Period for Bitcoin

The year 2024 has been pivotal for the cryptocurrency sector, with Bitcoin standing at the forefront of financial headlines. Early in the year, the U.S. approved its first crypto-based ETF, marking a significant milestone. Just a few months later, Bitcoin hit an unprecedented peak of $73,000.

Even though the digital currency has experienced some declines since then, it has maintained substantial value and demonstrated remarkable resilience. This enduring appeal has validated the conviction of its staunchest supporters, with few more ardent than Michael Saylor. Today’s announcement of MicroStrategy’s latest Bitcoin acquisition—amounting to $1.11 billion—further cements the firm’s commitment to the cryptocurrency.

The company revealed that it had bought an additional 18,300 BTC at an average cost of $60,408 per Bitcoin. It also reported a BTC yield of 4.4% for the quarter and 17% for the year to date. The company’s total holdings, now exceeding $9 billion in value, reflect an average purchase price of $38,585 per BTC.

Earlier this month, Saylor reiterated his bullish outlook for Bitcoin. In an interview with CNBC, he projected that Bitcoin could reach a value of $13 million per BTC over the next two decades. He also predicted that Bitcoin could capture 7% of all global capital, establishing itself as a significant pillar in the global financial ecosystem.

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