MicroStrategy Buys 18,300 $BTC, Boosts Holdings to 244,800

Published: Sep 13, 2024
Written By:
Sebastian Gamez
Sebastian Gamez
Milk Road Writer

MicroStrategy has acquired an additional 18,300 $BTC for $1.1 billion, bringing its total holdings to 244,800 $BTC, valued at $14 billion.

Key points:

  • 18,300 $BTC acquired: The company purchased more Bitcoin at an average price of $60,408 per $BTC.
  • Total holdings: MicroStrategy now holds 244,800 $BTC, worth approximately $14 billion.
  • Purchase cost: The firm has spent around $9.45 billion on its $BTC holdings, at an average of $38,585 per Bitcoin.
  • Funded by stock sales: Proceeds from the sale of 8M shares helped finance the latest acquisition.
  • Bitcoin yield: The company has seen a $BTC yield of 4.4% in Q3 and 17% year-to-date.

MicroStrategyā€™s $BTC Strategy Pays Off:

MicroStrategy has once again increased its massive Bitcoin portfolio, buying 18,300 BTC for about $1.1 billion.

As a result, this latest purchase brings the business intelligence firmā€™s total holdings to a staggering 244,800 $BTC, now valued at approximately $14 billion.

The firm, led by Bitcoin enthusiast Michael Saylor, bought the new $BTC at an average price of $60,408 per coin.

Since starting its Bitcoin-buying spree in 2020, MicroStrategy has cemented itself as the largest corporate holder of the cryptocurrency.

In fact, its total cost basis for all the Bitcoin it holds is around $9.45 billion, or $38,585 per coin. Given todayā€™s market value of around $58,000 per Bitcoin, MicroStrategy’s investment is proving to be quite profitable.

Moreover, this purchase was funded by the sale of over 8M shares, raising $1.1 billion. MicroStrategy has been using stock offerings as a way to fund its Bitcoin strategy.

Read more: MicroStrategy Now Holds 226,500 Bitcoin: Introduces New BTC Yield Metric

Additionally, Saylor revealed that the company has achieved a 4.4% $BTC yield so far in Q3 and 17% year-to-date, which further demonstrates how well the strategy has performed.

Despite the volatility in the crypto market, MicroStrategy remains committed to its long-term Bitcoin plan.

As a result, it continues to leverage both its stock sales and $BTC yield to keep buying more of the digital assetā€‹ā€‹.

Sebastian Gamez

Sebastian has been immersed in the crypto space since 2021, specializing in research and building a deep understanding of blockchain technologies. His expertise includes exploring innovative trends and sharing insights through content creation, all driven by his passion for how crypto can reshape industries and unlock new possibilities for the future.

Sebastian Gamez
Sebastian Gamez
Milk Road Writer
Sebastian has been immersed in the crypto space since 2021, specializing in research and building a deep understanding of blockchain technologies. His expertise includes exploring innovative trends and sharing insights through content creation, all driven by his passion for how crypto can reshape industries and unlock new possibilities for the future.