MicroStrategy Acquires Another 27,200 Bitcoin, Total Holdings Now Exceed 279,000
MicroStrategy Acquires Another 27,200 Bitcoin, Total Holdings Now Exceed 279,000CAIXIN, November 11, 2024 - MicroStrategy, the largest corporate holder of Bitcoin, announced that it purchased approximately 27,200 Bitcoin for around $2.03 billion in cash between October 31, 2024, and November 10, 2024
MicroStrategy Acquires Another 27,200 Bitcoin, Total Holdings Now Exceed 279,000
CAIXIN, November 11, 2024 - MicroStrategy, the largest corporate holder of Bitcoin, announced that it purchased approximately 27,200 Bitcoin for around $2.03 billion in cash between October 31, 2024, and November 10, 2024. This includes fees and expenses, with an average price around $74,463. Following this purchase, as of November 10, 2024, MicroStrategy and its subsidiaries collectively own approximately 279,420 Bitcoin, at a total purchase price of around $11.9 billion, with an average price of about $42,692 (including fees and expenses).
MicroStrategy has consistently maintained a positive stance towards Bitcoin, considering it a long-term investment. The company's founder and CEO, Michael Saylor, expresses strong confidence in Bitcoin's value and future potential, repeatedly stating his intention to continue adding to their Bitcoin holdings. This has been a key factor in making MicroStrategy one of the largest Bitcoin holders to date.
Data indicates that the return on MicroStrategys Bitcoin holdings has been 26.4% this year. This demonstrates the substantial return on investment MicroStrategy has achieved with Bitcoin, further validating the effectiveness of its long-term investment strategy.
MicroStrategys ongoing Bitcoin accumulation not only reflects its bullish outlook on cryptocurrencies but also injects new dynamism into the Bitcoin market. As more businesses and institutions engage in Bitcoin investment, the market size and influence of Bitcoin are poised to further expand.
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