Publicly traded business intelligence firm MicroStrategy continues showing its unswerving commitment to growing its Bitcoin stash. Today, the firm announced that it has acquired an additional 51,780 to its bitcoins holding, worth $4.6 billion, buying each BTC at $88,627.
The latest acquisition brings the company’s bitcoin holdings to 331,200 BTC, worth approximately $16.5 billion. On average, each BTC costs $49,874.
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
Year-to-date, MicroStrategy has recorded a 41.8% BTC yield and a 20.4% yield from the start of Q4 to date alone (QTD) following the current market price.
MicroStrategy’s Bitcoin Adventure
Since 2020, MicroStrategy has been passionate about Bitcoin. In 2024 alone, the company has been on several bitcoin purchase sprees. For instance, on March 11, 2024, the Bitcoin-loving company added 12,000 bitcoins to its portfolio at an average price of $68,477, valued at $821.7 million.
Just eight days later, on March 19, 2024, MicroStrategy acquired another 9,245 bitcoins, valued at $245 million. Only a few weeks later, the company again added 112 BTC to its stash.
At the helm of MicroStrategy’s BTC buying culture is its executive chairman and co-founder, Michael Saylor, who remains committed to making the company the largest corporate bitcoin holder. These acquisitions serve as a testament to this commitment.
MicroStrategy Growing in World’s Rating Ranking
The latest purchase brings MicroStrategy’s market capitalization to $74.8 billion, moving it from the #390 market ranking to #204 on the U.S. list of companies.
Recently, Michael Saylor openly expressed his vision to transform MicroStrategy into a trillion-dollar valued company and make it the world’s leading Bitcoin bank in an interview with analysts at Bernstein. He is bullish about Bitcoin because he sees digital gold as an unbeatable hedge against inflation.
The company’s co-founder also sees potential in the pioneer cryptocurrency as a unique asset that will attract investors who desire to generate yields.
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