MicroStrategy Buys $5.4 Billion in Bitcoin Again As Stock Price Surges 80%

MicroStrategy Inc. has made another significant Bitcoin acquisition, adding $5.4 billion worth of the cryptocurrency to its reserves. This marks the company’s third purchase in November as it accelerates its Bitcoin accumulation strategy.

Known for its pivot to becoming a Bitcoin treasury, MicroStrategy now holds the largest institutional stake in the cryptocurrency market.

MicroStrategy Stock (MSTR) Price Rallies in November 

The latest acquisition was partially funded through proceeds from a $3 billion convertible senior note offering. The company’s stock (MSTR) has surged alongside its Bitcoin acquisitions. 

Notably, there has been a close correlation between its performance and Bitcoin’s price movements. MSTR gained over 20% last week and is up nearly 80% this November. 

“MicroStrategy has acquired 55,500 BTC for ~$5.4 billion at ~$97,862 per #bitcoin and has achieved BTC Yield of 35.2% QTD and 59.3% YTD,” Michael Saylor wrote on X (formerly Twitter).

With Bitcoin’s price soaring by more than 150% this year, MicroStrategy’s stock has seen a staggering 515% year-to-date growth. This momentum has propelled the firm into the ranks of the top 100 publicly traded companies in the US.

Microstrategy Stock Price Throughout 2024. Source: TradingView

As of November 25, MicroStrategy’s Bitcoin reserves are at around $32 billion. This has reportedly outstripped the cash and liquid asset holdings of major corporations like IBM, Nike, and Johnson Johnson.

Earlier this year, Michael Saylor revealed plans to raise $42 billion for further Bitcoin investments between 2025 and 2027. Dubbed the “21/21 Plan,” the initiative involves securing $21 billion each from equity and fixed-income securities to significantly expand the company’s crypto reserves.

Meanwhile, BlackRock, the largest Bitcoin ETF issuer in the US, has increased its stake in Microstrategy to 5.2%.