On 13 September 2024, Michael Saylor, Co-Founder and Executive Chairman of MicroStrategy (NASDAQ: MSTR), announced a significant new addition to the company’s already massive Bitcoin holdings. Through a post on social media platform X, Saylor revealed that MicroStrategy has purchased an additional 18,300 Bitcoin for $1.11 billion, with each Bitcoin acquired at an average price of $60,408.
This latest acquisition further solidifies MicroStrategy’s position as one of the largest institutional holders of Bitcoin. The company now holds a staggering 244,800 BTC, accumulated at an average purchase price of $38,585 per Bitcoin. In total, MicroStrategy has invested $9.45 billion into Bitcoin, marking its continued confidence in the long-term value of the flagship cryptocurrency.
Saylor’s post also highlighted that MicroStrategy has achieved a Bitcoin yield of 4.4% for the quarter to date (QTD) and an impressive 17.0% year to date (YTD). This suggests that despite Bitcoin’s volatility, the company has managed to achieve solid returns on its holdings over time. The yield likely refers to MicroStrategy’s strategy of generating additional income through various means, such as lending or staking its Bitcoin holdings, although specific details on the methods were not provided in the post.
MicroStrategy has acquired 18,300 BTC for ~$1.11 billion at ~$60,408 per #bitcoin and has achieved BTC Yield of 4.4% QTD and 17.0% YTD. As of 9/12/2024, we hodl 244,800 $BTC acquired for ~$9.45 billion at ~$38,585 per bitcoin. $MSTR https://t.co/WBBRSKxA1U
— Michael Saylor⚡️ (@saylor) September 13, 2024
MicroStrategy’s consistent accumulation of Bitcoin reflects Saylor’s strong belief in the cryptocurrency as a store of value and a hedge against inflation. Since the company’s initial purchase in 2020, Saylor has been an outspoken advocate for Bitcoin, positioning it as a core part of MicroStrategy’s balance sheet and long-term investment strategy.
At the time of writing (3:23 p.m. UTC on September 13), MicroStrategy shares are trading at around $136.72, up 4.55% on the day.
Source: Google Finance
Featured Image via Pixabay
