MicroStrategy Acquires $1.11 Billion More in Bitcoin

MicroStrategy added 18,300 Bitcoin for $1.11 billion, raising its total to 244,800 Bitcoin acquired for $9.45 billion.

Deniz Saat

September 13, 2024 @ 11:58 AM PT

MicroStrategy has announced the purchase of 18,300 Bitcoin for $1.11 billion, increasing its total Bitcoin holdings to 244,800 Bitcoin, acquired at a total cost of $9.45 billion.

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. $MSTR https://t.co/WBBRSKxA1U
— Michael Saylor⚡️ (@saylor) September 13, 2024

Led by Founder and Chairman Michael Saylor, the business intelligence firm has been accumulating Bitcoin since 2020 as part of its corporate strategy, with the latest acquisition made at an average price of $60,408 per Bitcoin.

According to Saylor, the company has achieved a 17% return on its Bitcoin investments this year, benefiting from the asset's price appreciation while using low-interest loans to continue expanding its holdings.

At current market prices, MicroStrategy's Bitcoin assets are valued at over $15 billion. This has coincided with an increase in the company's stock price, which has reflected its Bitcoin purchasing strategy.

Despite market volatility in 2024, the company has maintained its commitment to adding Bitcoin to its treasury. The firm views Bitcoin as a long-term store of value, comparing it to cash, which can lose value due to inflation.

MicroStrategy is currently the largest publicly traded corporate holder of Bitcoin. Other companies have also begun adding Bitcoin to their balance sheets, but MicroStrategy's position remains the largest in terms of total holdings.

By utilizing its available capital to invest in Bitcoin, MicroStrategy has positioned itself as a prominent player in the broader adoption of the asset.