The company purchased an additional 7,420 Bitcoins at an average price of around $61,750, the company’s founder and CEO Michael Saylor shared.
"MicroStrategy has delivered a 5.1% return for the quarter so far and a 17.8% return for the year so far," said Michael Saylor.
With this latest purchase, MicroStrategy’s 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 Bitcoin's current trading price of $62,945, MicroStrategy's Bitcoin holdings are worth more than $15.8 billion. The company owns more than 1% of the total Bitcoin supply and is the largest institutional investor in the cryptocurrency asset.
Marathon Digital Holdings, the institution's second-largest Bitcoin fund, holds 26,200 Bitcoins worth about $1.6 billion, a figure far smaller than MicroStrategy's Bitcoin holdings.
MicroStrategy’s aggressive Bitcoin buying strategy is also having a positive impact on the company’s stock, with MSTR shares up more than 360% over the past 12 months.
In July, the company announced a 10-for-1 stock split between Class A and Class B common stock. The move was said to be aimed at making MicroStrategy shares more accessible to investors and employees.
Bitcoin has rallied nearly 20% since its September 2024 low of around $52,550. MicroStrategy's strong commitment to Bitcoin and its large-scale purchases are attracting attention in the cryptocurrency market.
