- MicroStrategy bought thousands of Bitcoins for $2.03 billion.
- The companyโs latest acquisition came after BTC reached a new all-time high.
- The crypto asset traded above $84,000 at the time of writing.
Business intelligence firm and corporate Bitcoin holder MicroStrategy has bolstered its massive BTC holdings with a fresh acquisition worth billions of dollars.
MicroStrategyโs latest Bitcoin acquisition came after the crypto assetโs price breached the $80,000 mark for the first time in history following Donald Trumpโs U.S. presidential election victory. CoinMarketCap data shows that BTC had surged 5.84% in the last 24 hours to exchange hands at $84,444 at the time of writing.
MicroStrategy Buys 27,200 Bitcoins
According to a press release dated November 11, MicroStrategy bought 27,200 Bitcoins for about $2.03 billion in cash at an average price of $74,463 per BTC, including fees and expenses. The Bitcoins were acquired between October 31 and November 10 using proceeds from the issuance of stock sales.
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The purchase represents MicroStrategyโs largest Bitcoin acquisition since it announced in December 2020 that it had bought 29,646 BTC. Based on Monday’s record price of over $84,000 for the original cryptocurrency, it brought the companyโs total Bitcoin holdings to about $23 billion.
โAs of November 10, 2024, the Company, together with its subsidiaries, held an aggregate of approximately 279,420 bitcoins, which were acquired at an aggregate purchase price of approximately $11.9 billion and an average purchase price of approximately $42,692 per bitcoin, inclusive of fees and expenses,โ the statement read.
MicroStrategyโs Bitcoin portfolio tracker indicated the companyโs return on investments in its BTC holdings at 96.53% following the fresh acquisition. Per BitcoinTreasuries data, MicroStrategy remains the largest corporate Bitcoin holder ahead of Marathon Digital and Riot Platforms, which hold $2.1 billion and $840 million worth of the original crypto, respectively.
Read about MicroStrategyโs โexclusiveโ relationship with Bitcoin:
Saylor Leaks MicroStrategyโs โExclusive Relationshipโ with Bitcoinย
Stay updated on why Bitcoiners were recently alarmed by Michael Saylorโs moves:
Bitcoiners Alarmed by Saylor Cozying Up to Uncle Sam
