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While some investors hold back from buying Bitcoin when it reaches new highs, MicroStrategy has doubled down, demonstrating a strong commitment to the cryptocurrency.
In a Nov. 11 <a data-ct-non-breakable="null" href="https://www.businesswire.com/news/home/20241111351255/en/MicroStrategy-Announces-BTC-and-ATM-Activity-Raised-2.03-billion-Purchased-27200-BTC-Now-Holds-279420-BTC-with-BTC-Yield-of-26.4-YTD" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://www.businesswire.com/news/home/20241111351255/en/MicroStrategy-Announces-BTC-and-ATM-Activity-Raised-2.03-billion-Purchased-27200-BTC-Now-Holds-279420-BTC-with-BTC-Yield-of-26.4-YTD">announcement</a>, the business intelligence firm turned Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/bitcoin-price">BTC</a>) investor said it bought 27,200 Bitcoin for about $2.03 billion in cash. MicroStrategy purchased the coins between Oct. 31 and Nov. 10, at an average price of $74,463 per BTC, including fees and expenses.
With the latest purchase, the company now holds a total of 279,420 BTC, worth nearly $23 billion at current market prices.
<h2 id="selling-shares-to-buy-more-bitcoin">Selling shares to buy more Bitcoin</h2>
According to MicroStrategy, the BTC purchases were made using proceeds from issuing and selling its shares.&nbsp;
MicroStrategy reported entering into sales agreements with various companies on Aug. 1 and on Oct. 30. As of Nov. 10, it had sold approximately 7.8 million shares for about $2 billion
The company also disclosed that its BTC yield — a key performance metric assessing its Bitcoin acquisition strategy — was 7.3% from Oct. 1 to Nov. 10. For the year to date, its BTC yield stands at 26.4%.
The news follows the company’s <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/micro-strategy-shares-up-20-week-following-trump-victory-rate-cuts" rel="noopener noreferrer nofollow" target="null" text="null" title="null">share price increasing</a> following Donald Trump’s victory in the United States presidential election on Nov. 5. On Nov. 8, MicroStrategy’s stock price had shot up by 19.9% after Trump’s victory was confirmed.
Related:<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/crypto-fear-greed-index-hits-7-month-high-bitcoin-reaches-81000" rel="noopener noreferrer nofollow" target="null" text="null" title="null"> Crypto greed index taps 7-month high as Bitcoin surges past $81K</a>
<h2 id="microstrategy-s-bitcoin-roi-surpasses-100">MicroStrategy’s Bitcoin ROI surpasses 100%</h2>
Meanwhile, the MicroStrategy Bitcoin portfolio tracker, “Saylor Tracker” — named after the company’s executive chairman, Michael Saylor —&nbsp;showed the firm’s return on investments on BTC had <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/microstrategy-bitcoin-portfolio-surpass-20-billion" rel="noopener noreferrer nofollow" target="null" text="null" title="null">surpassed 100% on Nov. 10</a>.&nbsp;
The data tracker showed that the company’s holdings at the time had already surpassed $20.5 billion even before adding the company’s latest BTC purchase.
BitcoinTreasuries data shows that the company had bought BTC 42 times at an average price of $39,292. The firm remains the largest corporate BTC holder, followed by Marathon Digital and Riot platforms. The two companies hold BTC worth about $2.1 billion and $840 million, respectively.
Magazine: <a data-ct-non-breakable="null" href="http://crypto.com" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Saylor gets sued, FBI warns about DeFi exploits and Crypto.com drops $495M sponsorship: Hodler’s Digest</a><advertisement>
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MicroStrategy buys $2B in Bitcoin, boosts holdings to $23B

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