MicroStrategy Adds 27,200 Bitcoin to Holdings, Total Now Exceeds 279,000
MicroStrategy Adds 27,200 Bitcoin to Holdings, Total Now Exceeds 279,000On November 11, MicroStrategy, the largest corporate holder of Bitcoin, announced the purchase of approximately 27,200 Bitcoin for approximately $2.03 billion in cash between October 31, 2024, and November 10, 2024
MicroStrategy Adds 27,200 Bitcoin to Holdings, Total Now Exceeds 279,000
On November 11, MicroStrategy, the largest corporate holder of Bitcoin, announced the purchase of approximately 27,200 Bitcoin for approximately $2.03 billion in cash between October 31, 2024, and November 10, 2024. This purchase includes fees and expenses, resulting in an average price of around $74,463.
As of November 10, 2024, MicroStrategy and its subsidiaries collectively own approximately 279,420 Bitcoin, acquired for a total purchase price of roughly $11.9 billion, with an average price of approximately $42,692 (including fees and expenses). Notably, the cost basis of these Bitcoin holdings is only around $11.9 billion, while the current market value significantly exceeds this, demonstrating MicroStrategy's long-term bullish outlook on Bitcoin.
The Bitcoin market has exhibited strong performance this year, yielding substantial returns for MicroStrategy. As of November 10, the company's Bitcoin holdings have generated a 26.4% return. Michael Saylor, CEO of MicroStrategy, consistently asserts that Bitcoin is the "best candidate" for the future of money and remains steadfastly optimistic about its long-term value.
MicroStrategy's continued accumulation of Bitcoin not only reflects its confidence in this asset but also signifies the growing attention being paid to digital assets by the corporate world. As more institutional investors join the Bitcoin investment arena, Bitcoin's influence as a new asset class is poised to continue expanding.
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