Bitcoin

MicroStrategy, one of the world’s largest public holders of Bitcoin, continued stacking BTC even as the cryptocurrency broke new highs.
On Nov. 18, MicroStrategy <a data-ct-non-breakable="null" href="https://www.microstrategy.com/press/microstrategy-acquires-51780-btc-and-achieves-btc-yield-of-20-qtd-and-41-ytd-now-holds-331200-btc" rel="nofollow noopener" target="_blank" text="null" title="https://www.microstrategy.com/press/microstrategy-acquires-51780-btc-and-achieves-btc-yield-of-20-qtd-and-41-ytd-now-holds-331200-btc">announced</a> it had purchased 51,780 Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) for about $4.6 billion at an average price of $88,627 per BTC.
With the latest acquisition, MicroStrategy’s total Bitcoin holdings have grown to 331,200 BTC, purchased at an aggregate cost of $16.5 billion. The average price per Bitcoin across all purchases is $49,874.
<h2 id="microstrategy-uses-fresh-proceeds-from-a-share-sale">MicroStrategy uses fresh proceeds from a share sale</h2>
MicroStrategy used fresh proceeds from a share sale under a sales agreement with companies like TD Securities <a data-ct-non-breakable="null" href="https://www.sec.gov/Archives/edgar/data/1050446/000119312524247543/d905175dex51.htm" rel="nofollow noopener" target="_blank" text="null" title="https://www.sec.gov/Archives/edgar/data/1050446/000119312524247543/d905175dex51.htm">made</a> on Oct. 30 to acquire thousands of new BTC.
As part of the agreement, MicroStrategy issued and sold shares between TD Securities, Barclays Capital, The Benchmark Company, Canaccord Genuity, Cantor Fitzgerald, Maxim Group, Mizuho Securities and SG Americas Securities.
Between Nov. 11 and 13, MicroStrategy sold 13.6 million shares for $4.6 billion.
As of Nov. 17, the company reported about $15.3 billion in shares still available for sale under the agreement, according to a filing with the United States Securities and Exchange Commission.
The purchase came amid Bitcoin breaking past $90,000 for the first time in history on Nov. 12 and extending gains further to a new high above $92,400 the next day.
<h2 id="largest-ever-btc-purchase-by-microstrategy">Largest-ever BTC purchase by MicroStrategy</h2>
The latest Bitcoin acquisition by MicroStrategy is its largest, accounting for more than 16% of all BTC held by the company.
According to data from CryptoQuant, the 51,780-BTC purchase is the largest Bitcoin purchase on record by MicroStrategy.
<figure>
 <img alt="Bitcoin Price, Michael Saylor, Companies" src="https://s3.cointelegraph.com/uploads/2024-11/01933f9a-b660-7740-b9ba-5b43fd24fe2f" title="">
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 Source: <a data-ct-non-breakable="null" href="https://x.com/cryptoquant_com/status/1858503563195949184" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/cryptoquant_com/status/1858503563195949184">CryptoQuant</a>
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Founded in 1989, MicroStrategy is currently the largest identified institutional Bitcoin holder globally, <a data-ct-non-breakable="null" href="https://bitcointreasuries.net/" rel="null" target="null" text="null" title="null">according</a> to data from BitcoinTreasuries.
Formerly led by its founder, <a data-ct-non-breakable="null" href="https://cointelegraph.com/top-people-in-crypto-and-blockchain-2023/michael-saylor" rel="null" target="null" text="null" title="null">Michael Saylor</a>, MicroStrategy debuted Bitcoin investment with a <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/worlds-biggest-business-intelligence-firm-buys-21k-btc-for-250m" rel="null" target="null" text="null" title="null">$250-million BTC purchase</a> in August 2020. Since <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/microstrategy-board-makes-bitcoin-its-primary-reserve-currency-may-increase-its-holdings-beyond-250m" rel="null" target="null" text="null" title="null">making Bitcoin</a> its “primary reserve currency” in 2020, MicroStrategy has regularly bought it in batches.
<figure>
 <img alt="Bitcoin Price, Michael Saylor, Companies" src="https://s3.cointelegraph.com/uploads/2024-11/01933f9a-6d01-761c-8650-4815b20edc25" title="">
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 Top 10 identified institutional Bitcoin holders. Source: BitcoinTreasuries.net
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In October, MicroStrategy announced <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/microstrategy-42b-capital-bitcoin-purchase-michael-saylor" rel="null" target="null" text="null" title="null">plans to raise $42 billion over the next three years</a> to continue buying more Bitcoin. The plan, called the “21/21 plan,” consists of $21 billion in equity and $21 billion in fixed-income securities over the next three years.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/microstrategy-buys-2-billion-in-bitcoin" rel="null" target="null" text="null" title="null">MicroStrategy buys $2B in Bitcoin, boosts holdings to $23B</a>
Amid Bitcoin hitting new historic records last week, MicroStrategy founder Saylor <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-price-wont-fall-60k-no-threats-microstrategy-michael-saylor" rel="" target="_self" text="null" title="https://cointelegraph.com/news/bitcoin-price-wont-fall-60k-no-threats-microstrategy-michael-saylor">ruled out the chances of Bitcoin retracing to $60,000</a>.
“I don’t think it is going to $60,000, it is not going to $30,000, I think it is going to go up from here,” Saylor stated on CNBC.
 Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoin-price-thanksgiving-trader-btc-etf-options-cftc-hodlers-digest/" rel="" target="_self" text="null" title="https://cointelegraph.com/magazine/bitcoin-price-thanksgiving-trader-btc-etf-options-cftc-hodlers-digest/">Saylor doubts $60K Bitcoin retrace, BTC ETF options, and more: Hodler’s Digest, Nov. 10–16</a>

MicroStrategy buys $4.6B of Bitcoin as price nears all-time high

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