MicroStrategy added 51,780 Bitcoin (BTC) to its holdings. The company acquired BTC for $4.6 billion, bringing its total holdings to 331,200 BTC. Metaplanet, an Asian MicroStrategy, also announced plans to purchase additional Bitcoin on November 18th.
MicroStrategy, the world's largest corporate holder of Bitcoin (BTC), has further increased its impressive BTC holdings with a new large-scale purchase.
The company announced on November 18 that it had acquired an additional 51,780 BTC worth $4.6 billion, with the latest purchase being made at an average price of $88,627 per Bitcoin. This brings MicroStrategy's total BTC holdings to 331,200 BTC.
MicroStrategy BTC holdings reached 331,200
MicroStrategy's announcement comes days after the company's founder Michael Saylor revealed he had purchased over $2 billion worth of BTC.
All in all, the publicly traded company, whose stock MSTR soared amid Bitcoin's huge price rally, acquired $16.5 billion worth of BTC. The average purchase price was $49,874, allowing the company to reap billions of dollars in profits as the benchmark cryptocurrency trades near all-time highs.
“MicroStrategy acquired 51,780 BTC for approximately $4.6 billion at approximately $88,627 per #bitcoin, achieving a BTC yield of 20.4% QTD, 41.8% YTD. As of November 17, 2024, per Bitcoin Acquired for approximately $49,874 for approximately $16.5 billion. I have $331,200 in BTC,” Michael Saylor posted on X.
As reported by CoinJournal, the US-based company has encouraged several other platforms and entities to adopt its Bitcoin strategy.
One of them is Metaplanet, a Japan-based company listed on the Tokyo Stock Exchange. On November 18th, Metaplanet revealed that it had issued over $11 million in bonds to purchase Bitcoin. Metaplanet has become known as “Asia's micro-strategy”.
Elsewhere, the market continues to see increased interest in the crypto asset class. Bitcoin recently hit a new all-time high of over $93,000. BTC price has stabilized around the $90,000 level amid predictions that the digital asset's value could reach $100,000 by the end of the year.
