MicroStrategy Buys $1.11 Billion in Bitcoin, Boosts Holdings to 244,800 BTC
MicroStrategy has acquired 18,300 more Bitcoin for $1.11 billion, bringing its total holdings to 244,800 BTC as part of its ongoing investment strategy.
Massive Bitcoin Purchase by MicroStrategy
MicroStrategy has made another significant investment in Bitcoin, acquiring 18,300 BTC between August 6 and September 12. According to recent reports, the company bought the cryptocurrency for $1.11 billion at an average price of $60,408 per Bitcoin.
MicroStrategy has acquired 18,300 BTC for ~$1.11 billion at ~$60,408 per #bitcoin and has achieved BTC Yield of 4.4% QTD and 17.0% YTD. As of 9/12/2024, we hodl 244,800 $BTC acquired for ~$9.45 billion at ~$38,585 per bitcoin. $MSTRhttps://t.co/WBBRSKxA1U — Michael Saylor⚡️ (@saylor) September 13, 2024
MicroStrategy's founder, Michael Saylor, announced the acquisition, adding to the company’s already substantial Bitcoin reserves. The purchase reflects the company’s continued commitment to Bitcoin as a long-term investment.
Bitcoin’s Return on Investment
Saylor shared that MicroStrategy achieved a 4.4% return for the current quarter (QTD) and a 17.0% year-to-date return (YTD). These figures highlight the profitability of the company’s Bitcoin strategy, despite the market’s volatility.
The average cost of MicroStrategy's latest purchase is $60,408 per BTC, while the company's overall average cost per Bitcoin stands at $38,585, underscoring the success of their earlier investments.
Total Bitcoin Holdings and Investment Value
As of September 12, 2024, MicroStrategy holds 244,800 BTC, valued at approximately $9.45 billion. The company’s average acquisition cost remains $38,585 per Bitcoin, demonstrating their long-term belief in Bitcoin's growth potential.
Saylor’s latest move solidifies MicroStrategy’s position as one of the largest corporate holders of Bitcoin, further reinforcing the company’s bullish stance on the digital asset.
