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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
This makes MicroStrategy as one of the largest institutional holders of Bitcoin worldwide.
A Strategic Bitcoin Acquisition
MicroStrategy revealed in a statement that it acquired these new bitcoins between August 6 and September 12, 2024. The purchase was made using proceeds from the sale of company shares, at an average price of $60,408 per Bitcoin.
The recent purchase brings the company’s total Bitcoin investment to approximately $9.45 billion, at an average purchase price of $38,585 per Bitcoin.
With this latest acquisition, MicroStrategy’s Bitcoin holdings are now valued at around $14 billion at current market prices, which average $58,000 per BTC.
MicroStrategy’s Bold Bitcoin Strategy
MicroStrategy began its journey into Bitcoin in 2020 as part of its capital allocation strategy. Michael Saylor has consistently promoted Bitcoin as a hedge against inflation and a superior store of value compared to traditional fiat currencies. Since then, the company has steadily accumulated Bitcoin, becoming a key player in the cryptocurrency space.
MicroStrategy’s Place in the Bitcoin Ecosystem
With 244,800 Bitcoin in its treasury, MicroStrategy now holds more than 1% of all Bitcoin ever issued.
BlackRock’s iShares Bitcoin Trust, with around $20 billion in assets, remains the world’s largest Bitcoin fund. However, MicroStrategy's $14 billion Bitcoin portfolio is now one of the largest holdings among non-fund entities.
Besides its substantial Bitcoin holdings, MicroStrategy has developed a metric called BTC yield to track the percentage change in its Bitcoin holdings to its diluted shares over a given period. Saylor announced that the company achieved a 4.4% BTC yield for the quarter and a 17% year-to-date yield.