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MicroStrategy Continues Bitcoin-Buying Spree, Purchases an Additional $458,200,000 Worth of BTC

MicroStrategy Continues Bitcoin-Buying Spree, Purchases an Additional $458,200,000 Worth of BTC

Daily HodlDaily Hodl2024/09/20 16:00
By:by Daily Hodl Staff

MicroStrategy, the world’s largest corporate holder of Bitcoin, has purchased an additional $458.2 million worth of BTC .

The business intelligence and “Bitcoin development” firm acquired 7,420 BTC at an average price of approximately $61,750, according to Michael Saylor , the company’s co-founder and executive chairman.

Saylor also notes that MicroStrategy has achieved a Bitcoin yield of 5.1% quarter to date and 17.8% year to date. In total, the firm now owns 252,220 BTC acquired for $9.9 billion at an average cost of approximately $39,266 per Bitcoin.

BTC is trading at $62,945 at time of writing, meaning the value of MicroStrategy’s holdings is now more than $15.8 billion.

The firm owns more than 1% of Bitcoin’s total supply and is far and away the largest corporate investor in the crypto asset. The second-largest Bitcoin corporate treasury belongs to Marathon Digital Holdings, which owns 26,200 BTC worth approximately $1.6 billion, according to BitcoinTreasuries.net .

MicroStrategy’s aggressive Bitcoin acquisition strategy appears to have benefited the company’s stock. The price of MSTR is up more than 360% in the past 12 months.

In July, the business intelligence firm  announced  a 10-1 stock split of its class A common stock and class B common stock to “make MicroStrategy’s stock more accessible to investors and employees.”

BTC is up nearly 20% from its September 2024 lows of around $52,550.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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