1 in 75 Bitcoins is already in the hands of MicroStrategy

MicroStrategy, a technology company led by Michael Saylor, has significantly expanded its Bitcoin (BTC) holdings, consolidating itself as the publicly traded entity with the largest amount of the digital currency on its balance sheet. The company recently announced the acquisition of 27,200 BTC, bringing the total to around 278,000 Bitcoin.

Between October 31, 2024 and November 10, 2024, MicroStrategy purchased these 27,200 bitcoins for a total of approximately $2 billion in cash at an average price of $74,463 per bitcoin, including fees and expenses, according to the press release. .

These investments reflect the aggressive Bitcoin accumulation strategy that MicroStrategy has been pursuing for several years.

As of November 10, 2024, the company and its subsidiaries have a total of approximately 279,420 bitcoinsacquired at an aggregate purchase price of approximately $11.9 billion and an average price of $42,692 per BTC, including fees and expenses.

This volume means that MicroStrategy now owns 1 out of every 75 Bitcoins that will be issued. considering the total limit is 21 million BTC.

The company’s return on Bitcoin investments year-to-date through November 10, 2024 was 26.4%. indicating a noticeable increase in the value of its digital assets..

According to BitcoinTreasuries, this figure exceeds other companies that have also invested in Bitcoin, such as Marathon Digital Holdings with 26,800 BTC and Tesla with 9,720 BTC.

MicroStrategy’s strategy not only focuses on the accumulation of Bitcoin as a store of value, but also includes the disclosure and promotion of Bitcoin as part of its corporate policy. This strategy was imitated by other companies around the world, such as Japan’s Metaplanet. which followed MicroStrategy’s leadThis was reported by CriptoNoticias.

Shares have recovered

According to TradingView, following MicroStrategy’s announcement that it had acquired 27,200 Bitcoin, its shares saw a remarkable one-day rise of 19%, rising from $267 to $322.

This rise in the stock price directly correlates with the bullish behavior of the Bitcoin market, which has once again set new all-time highs.

At the time of writing, Bitcoin is trading at $84,800, which has increased not only the implied value of MicroStrategy’s BTC reserves, but also investor confidence in the company’s strategy. accumulate BTC as a reserve and long-term growth asset.

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This article was created using artificial intelligence and edited by a human editor.