MicroStrategy Continues Bitcoin Purchases: $458.2 Million in New Purchases.
The company has purchased an additional 7,420 Bitcoins at an average price of around $61,750. This information was shared by the companyâs founder and CEO Michael Saylor.
âMicroStrategy has returned 5.1% quarter-to-date and 17.8% year-to-date,â Michael Saylor said.
With this latest purchase, MicroStrategyâs total Bitcoin holdings have increased to 252,220. The company has purchased a total of $9.9 billion worth of Bitcoin to date at an average price of around $39,266.
Based on Bitcoinâs current trading price of $62,945, MicroStrategyâs Bitcoin holdings are worth over $15.8 billion. The company owns over 1% of Bitcoinâs total supply and is the largest institutional investor in the crypto asset.
Marathon Digital Holdings, the second-largest institutional Bitcoin treasury, holds 26,200 Bitcoins worth around $1.6 billion. Thatâs well below MicroStrategyâs Bitcoin holdings.
MicroStrategyâs aggressive Bitcoin buying strategy is also having a positive impact on the companyâs stock. MSTR shares have gained more than 360% in the past 12 months.
In July, the company announced a 10-to-1 stock split between its Class A and Class B common stocks. The move is reportedly aimed at making MicroStrategy shares more accessible to investors and employees.
Bitcoin has gained close to 20% since its September 2024 low of around $52,550. MicroStrategyâs strong commitment to Bitcoin and its large-scale purchases are drawing attention in the cryptocurrency market.
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