In this post:
- Microstrategy has announced an additional Bitcoin purchase of 27,200 BTC for approximately $2.03 billion at an average price of $74,463.
- The software company now holds 279,420 Bitcoin worth $22.4 billion and has retained its position as the largest corporate Bitcoin holder.
- The company completed the purchase using proceeds from the issuance and sales of shares.
U.S.-based software company Microstrategy has announced an additional purchase of 27,200 Bitcoin worth $2.03 billion. The mega purchase brought each Bitcoin to an average price of $74,463 and is the second largest number of BTC the company has purchased since 2020.
MicroStrategy has cemented its reign as the top global corporate Bitcoin holder through a recent Bitcoin purchase. The company announced in a press release that it had bought 27,200 Bitcoin for approximately $74,463 each, bringing its total purchase value to $2.03 billion.
MicroStrategy now holds 279,420 Bitcoin after its recent 27,200 BTC purchase
The company, alongside its subsidiaries, now holds 279,420 Bitcoin for an aggregate purchase price of $42,692, bringing its purchase value to $11.9 billion. Microstrategy’s BTC holdings are worth $22.4 billion at BTC’s current price of $82,000 at the time of this publication.
On August 1st, Microstrategy initiated a sales agreement with TD Securities and other entities. The software company sold its class A common stock for $0.001 per share with an aggregate offering price of up to $2 billion. On October 30th, Microstrategy entered into another sale agreement with its agents. The aggregate offering price on October’s sales agreement was $21 billion.
The company announced in the press release that, as of November 10th, it had sold 7,854,647 shares for approximately $2.03 billion under the sales agreements.
Microstrategy reports a BTC yield YTD value of 26.4%
The company reported that its BTC yield between January 1st, 2024, and November 10th, 2024, was 26.4%, while the yield between October 1st, 2024, and November 10th, 2024, was 7%. Microstrategy’s stock price surged by 16% after announcing the purchase, showing strong investor confidence and bullish sentiment on the stock.
According to data from Bitcoin Treasuries, Microstrategy’s recent purchase is the second-highest single-day Bitcoin purchase the company has made since its first Bitcoin acquisition in August 2020.
On 21st December 2020, the software company purchased 29,646 Bitcoin, its largest BTC purchase to date. On September 20th, 2024, Microstrategy added 7,420 Bitcoin to its holdings at an average price of $63,232.
Microstrategy unveils an ambitious plan to raise $42 billion to buy Bitcoin in three years
In October, Microstrategy announced its ambitious plan to raise $42 billion and use it to purchase more Bitcoin in the next three years. The company unveiled its “21/21 Plan,” which advocates for $21 billion of equity raises and $21 billion of debt offerings in the next three years. The plan aims at increasing the company’s BTC yield.
Microstrategy’s founder and Chairman, Michael Saylor, recently shared that nations will adopt Bitcoin as a treasury reserve asset. His remarks follow Trump’s proposal to make Bitcoin a national strategic reserve for the US Federal Reserve. Trump promised the crypto community the policy while speaking at the Bitcoin Conference 2024 in July.
On November 6th, Republican Senator Cynthia Lummis, often nicknamed “Bitcoin Senator,” claimed creating the BTC reserve would supercharge the U.S. dollar as the world reserve currency.
Source: cryptopolitan.com
