MicroStrategy Purchases an Additional $5.4 Billion Worth of Bitcoin

MicroStrategy raised its Bitcoin holdings to 386,700 Bitcoin with a $5.4B purchase, reflecting confidence in its growth.

Deniz Saat

November 25, 2024 @ 4:42 PM PT

MicroStrategy, a leading publicly traded company specializing in business intelligence and software, has significantly increased its Bitcoin holdings, as revealed in a filing on November 25th.

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. As of 11/24/2024, we hodl 386,700 $BTC acquired for ~$21.9 billion at ~$56,761 per bitcoin. $MSTR https://t.co/79ExzXk4UM
— Michael Saylor⚡️ (@saylor) November 25, 2024

Between November 18th and 24th, the company purchased roughly 55,000 Bitcoin for a total of $5.4 billion, averaging $97,862 per coin.

According to the filing, the acquisition was financed through funds raised from recent equity and debt offerings.

This latest purchase boosts MicroStrategy’s total Bitcoin reserves to an impressive 386,700 Bitcoin.

The company’s cumulative investment in the asset now amounts to $21.9 billion, with an average acquisition cost of $56,761 per Bitcoin.

The timing of the acquisition, as Bitcoin approaches a new peak near $100,000, signals the firm’s confidence in the asset’s long-term potential.

MicroStrategy appears to be banking on increasing institutional interest and the possibility of favorable pro-Bitcoin legislation under the incoming U.S. presidential administration to further drive Bitcoin’s growth.