Software intelligence firm Microstrategy Inc. (Nasdaq: MSTR) filed a report with the U.S. Securities and Exchange Commission (SEC) on Monday, announcing its latest bitcoin acquisition. Between Nov. 11 and 17, the company purchased 51,780 BTC for $4.6 billion in cash, averaging $88,627 per bitcoin, including fees. Funded by proceeds from a recent equity sale, this purchase increases Microstrategy’s total bitcoin holdings to 331,200, acquired for an aggregate of $16.5 billion. Executive Chairman Michael Saylor commented on social media platform X:
Microstrategy has acquired 51,780 BTC for ~$4.6 billion at ~$88,627 per bitcoin and has achieved BTC yield of 20.4% QTD and 41.8% YTD. As of 11/17/2024, we hodl 331,200 BTC acquired for ~$16.5 billion at ~$49,874 per bitcoin.
Over the week, the company raised $4.6 billion by selling over 13.59 million shares, leaving $15.3 billion available for future sales. BTC yield, a key performance metric tracking bitcoin holdings relative to diluted shares, climbed to 20.4% for the quarter and 41.8% year-to-date. This reflects the company’s aggressive acquisition strategy to create shareholder value. Saylor’s remarks emphasized the significance of the latest milestone and the firm’s continued commitment to cryptocurrency investments. Last week, Microstrategy disclosed a purchase of 27,200 bitcoins for $2.03 billion.
Saylor, predicting bitcoin to hit $100,000 by year-end, pointed to Wall Street support and regulatory optimism while dismissing concerns of bitcoin falling below $60,000. He shared:
I’m planning the $100K party and I’m thinking it’s probably going to be New Year’s Eve at my house.
“I would be surprised if we don’t go through $100K in November or December,” he added. Saylor has been a vocal advocate for bitcoin’s potential to strengthen the U.S. economy, endorsing Senator Cynthia Lummis’ call for a U.S. bitcoin reserve.
The Microstrategy executive chairman also revealed strong investor demand for additional bitcoin purchases, stating: “All of our investors tell me, they want me to buy more bitcoin. They want me to raise capital to buy bitcoin. And their number one concern was: ‘Are you going to stop issuing equity to buy bitcoin?’” Saylor’s long-term outlook for bitcoin projects a price range of $3 million to $49 million per coin by 2045. His “bear case” predicts $3 million, the “bull case” $49 million, and the “base case” $13 million, emphasizing BTC’s potential to transform the global economy and serve as a key treasury asset.
