United

Bitcoin

Genius

Yield

Read

Software developer MicroStrategy has continued Michael Saylor’s aggressive Bitcoin buying strategy, increasing its holdings to over 331,200 BTC. 
According to disclosure documents, MicroStrategy’s latest Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank">BTC</a>) purchase <a href="https://www.microstrategy.com/press/microstrategy-acquires-51780-btc-and-achieves-btc-yield-of-20-qtd-and-41-ytd-now-holds-331200-btc" target="_blank" rel="nofollow">amounted</a> to $4.6 billion, doubling its previous acquisition disclosed last week. The company acquired 51,780 BTC at an average price of $88,627 per coin, as confirmed by executive chairman and founder Michael Saylor. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 MicroStrategy has acquired 51,780 BTC for ~$4.6 billion at ~$88,627 per <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#bitcoin</a> and has achieved BTC Yield of 20.4% QTD and 41.8% YTD. As of 11/17/2024, we hodl 331,200 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$BTC</a> acquired for ~$16.5 billion at ~$49,874 per bitcoin. <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$MSTR</a> <a rel="nofollow" href="https://t.co/SRRtRrB2jO" target="_blank">https://t.co/SRRtRrB2jO</a>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1858496146026467378?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">November 18, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
The average purchase price was less than 5% below BTC’s all-time high of $93,477. With this latest acquisition on Nov. 18, MicroStrategy has spent $16.5 billion on its Bitcoin strategy and now holds over $13 billion in unrealized profits from its crypto holdings. 
Saylor first introduced his Bitcoin purchasing strategy in 2020, following the global pandemic. Since then, MicroStrategy has become the largest corporate holder of BTC, amassing nearly $30 billion in the cryptocurrency. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1114" height="653" src="https://crypto.news/app/uploads/2024/11/BTCUSDT_2024-11-18_14-55-10.png" alt="Bitcoin price chart" class="wp-image-14311478">
 <figcaption class="wp-element-caption">
 24-hour BTC price chart – Nov. 18 | Source: <a href="https://crypto.news/price/bitcoin/" target="_blank">crypto.news</a>
 </figcaption>
</figure> 
 You might also like: <a rel="" href="https://crypto.news/microstrategys-bitcoin-exceeds-nike-and-ibm-cash/"> MicroStrategy’s $26 billion in Bitcoin exceeds Nike and IBM cash </a> 
MSTR’s BTC roadmap also expanded to feature one of Wall Street’s most ambitious capital-raising exercises. Saylor aims to <a href="https://crypto.news/michael-saylor-eyes-42b-bitcoin-buy-via-mstr-sales/" target="_blank">raise</a> $42 billion to buy more BTC in the next three years. The company already utilized loans, debt, and equity sales to fund what may be an endless BTC buying cycle. 
Four years of consistent purchases placed Saylor’s MicroStrategy above other private entities and even nations like the United States. More firms have adopted the thesis, adding Bitcoin to their balance sheets and portfolios. 
In May, Semler Scientific <a href="https://crypto.news/semler-scientific-unveils-strategy-for-bitcoin-treasury/" target="_blank">unveiled</a> its strategy for a Bitcoin Treasury. Artificial intelligence startup Genius Group <a href="https://crypto.news/ai-startup-genius-group-picks-bitcoin-as-main-treasury-asset/" target="_blank">scooped</a> its first BTC buy last week, and Thumzup Media Corp <a href="https://crypto.news/thumzup-approves-1m-of-bitcoin-as-treasury-reserve-asset/" target="_blank">joined</a> the bandwagon in November. Tokyo-based Metaplanet boasts over 1,000 BTC and recently <a href="https://crypto.news/metaplanet-to-buy-more-bitcoin-with-11-3m-bond-issuance/" target="_blank">announced</a> plans to increase its BTC balance. 
 Read more: <a rel="" href="https://crypto.news/michael-saylor-eyes-42b-bitcoin-buy-via-mstr-sales/"> News Michael Saylor eyes $42b Bitcoin buy via MSTR sales </a>

MicroStrategy added $4.6b in Bitcoin to holdings

crypto.news

Other articles published on Nov 18, 2024

Republicans Challenge SEC on Ethereum Custody

AI in Risk Management: Securing Investments in Volatile DeFi

Polish Candidate Pushes for Bitcoin Reserve Ahead of 2025 Election

Is It Too Late To Buy OM? Mantra Price Surges 24% And This Might Be The Next Crypto To Explode

Upcoming Binance Listings: Spice Up Your 2024 with Massive Gains

New Digital Identity Y Platfrom Will Be Launched To Compete With Worldcoin

Join our free newsletter for daily crypto updates!