MicroStrategy Acquires 27200 BTC Worth $2.03 Billion
The latest addition brings MicroStrategy’s total Bitcoin holdings to approximately 279,420 BTC, acquired for an aggregate $11.9 billion. MicroStrategy’s Average Purchase Price Stands at $42,600
Michael Saylor’s MicroStrategy has bolstered its position as the largest corporate holder of Bitcoin with a new purchase of 27,200 BTC.
The acquisition, valued at $2.03 billion, was made between October 31 and November 10, 2024, at an average price of $74,463 per coin, including fees, the company said in an official press release.
The latest addition brings MicroStrategy’s total Bitcoin holdings to approximately 279,420 BTC, acquired for an aggregate $11.9 billion.
MicroStrategy’s Average Purchase Price Stands at $42,600
The company’s average purchase price now stands at $42,692 per coin, compared to Bitcoin’s current price of $81,700.
On Monday, Bitcoin soared to a new all-time high above $82,000, fueled by growing optimism from U.S. elections that brought several pro-crypto candidates into office.
The rally was mirrored by significant activity in futures markets, with open interest for bitcoin surpassing $90,000 on the Deribit exchange exceeding $2.8 billion.
Meanwhile, MicroStrategy’s latest acquisition follows a mixed earnings report, with MicroStrategy falling short of revenue expectations by reporting $116 million in quarterly sales against a $122.66 million consensus estimate.
However, the company’s Bitcoin strategy remains aggressive, with plans to raise $42 billion in capital for further acquisitions in the coming years.
Dubbed the “21/21 plan,” the strategy involves raising $21 billion in equity and $21 billion in fixed-income securities to continue its aggressive Bitcoin acquisition.
