American business intelligence firm and the world’s first corporate bitcoin holder, MicroStrategy, has hit the market again with a whooping 55,500 BTC purchase completed on Monday.
MicroStrategy’s chairman, Michael Saylor, has shown unwavering confidence in the leading cryptocurrency by adopting it as a reserve for his company and acquiring it despite the market uptrend. He does not care about the market price.
$5.4 Billion BTC Shopping
According to Saylor, his company stormed the crypto market with $5.4 billion and got about 55,500 BTC at an average price of $97,862 per bitcoin. Completing its latest purchase, MicroStrategy has achieved a BTC Yield of 35.2% QTD and 59.3% YTD.
To finance its large purchase, MicroStrategy completed a $3 billion convertible senior notes offering to qualified institutional investors at 0% interest, maturing by December 2029 with a buyback clause.
Following the purchase, MicroStrategy now holds 386,700 BTC, over 1.84% of the total fixed bitcoin supply, acquired for $21.9 billion at an average price of $56,761 per bitcoin.
MSTR Investors Benefit
Saylor revealed in a recent X post that the company’s MSTR stock has increased since it switched to a Bitcoin primary reserve strategy. Within the past 22 years, the stock has jumped by 100,247%, from $0.42 to $421.88, with most of the massive jumps occurring since he adopted bitcoin in 2020.
He also noted that year to date, MSTR holders are enjoying a net benefit of approximately 112,125 BTC, or 341 BTC per day.
Year to date, $MSTR‘s treasury operations delivered a BTC Yield of 59.3%, providing a net benefit of ~112,125 BTC to our shareholders, or ~341 BTC per day. At $100K per BTC, that would equate to $11.2 billion for the year so far, or $34.1 million per day.
— Michael Saylor⚡️ (@saylor) November 25, 2024
Confirming the rise, a recent participant in CNBC’s Mad Money show noted that he has only held MSTR for a year and is swimming in over 1000 % profit.
MicroStrategy Sets Pace
Semler Scientific, a U.S. healthcare technology firm, follows in MicroStrategy’s footsteps. According to its latest release, it has acquired 297 BTC for $29.1 million at 97,995 per bitcoin. Concluding its last purchase, it now holds 1,570 BTC acquired for $117.8 million at $75,039 per bitcoin.
Alongside Semler is Marathon Digital, a Bitcoin mining firm that also added to its stack with a just-concluded 5,771 BTC purchase on Friday. It now holds 33,875 BTC, valued at almost $3.4 billion.
Meanwhile, at the current bitcoin price of $96,000, MicroStrategy’s holdings are worth over $37.1 billion.
