MicroStrategy Inc. has made another significant Bitcoin acquisition, adding $5.4 billion worth of the cryptocurrency to its reserves. This marks the company’s third purchase in November as it accelerates its Bitcoin accumulation strategy.
Known for its move to become a Bitcoin treasury, MicroStrategy now holds the largest institutional stake in the cryptocurrency market.
MicroStrategy (MSTR) Stock Price Surges in November
Furthermore, the latest acquisition was partially funded with proceeds from a $3 billion convertible senior note offering. The company’s (MSTR) stock has soared alongside its Bitcoin acquisitions.
In fact, there has been a close correlation between its performance and Bitcoin’s price movements. MSTR gained over 20% last week and is up nearly 80% in November.
MicroStrategy acquired 55,500 BTC for $5.4 billion at $97,862 per#bitcoinand achieved a BTC yield of 35.2% for the quarter and 59.3% for the year, wrote Michael Saylor on X (formerly Twitter).
However, with the price of Bitcoin rising by over 150% this year, MicroStrategy’s stock has seen an impressive 515% year-to-date growth. This momentum has propelled the company into the top 100 publicly traded companies in the US.
Microstrategy Stock Price Through 2024. Source: TradingView
Today (25), MicroStrategy’s Bitcoin reserves are around $32 billion. This reportedly surpasses the cash reserves and liquid assets of major corporations like IBM, Nike, and Johnson & Johnson.
Earlier this year, Michael Saylor revealed plans to raise $42 billion for further Bitcoin investment between 2025 and 2027. Dubbed the “21/21 Plan,” the initiative involves securing $21 billion each from stocks and fixed-income securities to significantly expand the firm’s crypto holdings.
Meanwhile, BlackRock, the largest Bitcoin ETF issuer in the US, increased its stake in MicroStrategy to 5.2%.
The article MicroStrategy invests US$5.4 billion in Bitcoin and shares rise 80% was first seen on BeInCrypto Brasil.
