Despite the high trade price of Bitcoin, the business intelligence firm invested $2.03 billion to purchase Bitcoin to increase the company’s BTC holding.
MicroStrategy is a popular Nasdaq-listed business intelligence firm that is mainly recognized in the crypto space due to its substantial Bitcoin holdings. Since 2020, the company has been continuously buying Bitcoin to establish itself as a leading Bitcoin-focused company.
On 11 Nov 2024, former MicroStrategy CEO Michael Saylor informed the crypto community about the company’s latest Bitcoin purchase. The company acquired 27,200 BTC at a trade price of $74,463, spending a total of $2.03 billion on this significant purchase.
MicroStrategy now holds a total of 279,420 $BTC, acquired for approximately $11.9 billion at an average price of ~$42,692 per Bitcoin. With this major Bitcoin investment, the company gained a BTC yield of 7.3% quarter-to-date (QTD) and 26.4% year-to-date (YTD).
MicroStrategy has acquired 27,200 BTC for ~$2.03 billion at ~$74,463 per #bitcoin and has achieved BTC Yield of 7.3% QTD and 26.4% YTD. As of 11/10/2024, we hodl 279,420 $BTC acquired for ~$11.9 billion at ~$42,692 per bitcoin. $MSTR https://t.co/uCt8nNUVqd
— Michael Saylor⚡️ (@saylor) November 11, 2024
Through another tweet, MicroStrategy Chairman Michael Saylor reported that the company’s treasury operations in the first 10 days of this month achieved a Bitcoin yield of 7.3%, bringing an approximate net benefit of 18,410 BTC to its shareholders.
Our $MSTR treasury operations in the first 10 days of November resulted in a BTC Yield of 7.3%, a net benefit to our shareholders of ~18,410 BTC.
— Michael Saylor⚡️ (@saylor) November 11, 2024
Bitcoin Price Action
The current trade price of Bitcoin is $84,003. Notably, the trade price of Bitcoin surged by 5% in the last 24 hours and by 22% in the last 7 days.
Current trade price of Bitcoin is $84,032 pic.twitter.com/M81248qJie
— Bitcoinik (@Bitcoinikdotcom) November 11, 2024
According to reports, Bitcoin investors could face a total of $1.56 billion in capital liquidation if the Bitcoin trade price hits $85,000.
According to crypto analysts, the bull phase of Bitcoin is expected to continue for the next 12 months.
#Bitcoin Time & Cycles ⏳♻️I don't believe this cycle ends in 2024. It's more likely to extend until one year from now. 🚀The strategy I shared early 2023 worked like a charm. Were you one of my followers who caught it? When did you start following ? Let me know ! 👇 pic.twitter.com/Kgg9DkZntv
— Titan of Crypto (@Washigorira) November 11, 2024
Read also: Solana ($SOL) Joins the $100 Billion Market Cap Club Amid Bull Run, While Bitcoin Hits New All-Time High of $81,500
