Bitcoin

MicroStrategy has announced a significant <a href="https://optimisus.com/news/crypto-news/nearly-4-billion-in-bitcoin-and-ethereum-options-expire/" rel="noopener noreferrer nofollow">Bitcoin (BTC)</a> acquisition, purchasing 51,780 BTC between November 11 and November 17, 2024. This move highlights the company’s steadfast commitment to its Bitcoin-focused strategy, championed by Executive Chairman Michael Saylor.The purchase was funded through MicroStrategy’s At-the-Market (ATM) program, which involves issuing and selling shares to raise capital.To date, the company has utilized $5.7 billion of the program’s $21 billion total, leaving $15.3 billion available. If the current pace continues, MicroStrategy could fully leverage the program by the end of the year.With this latest acquisition, MicroStrategy’s total <a href="https://optimisus.com/news/crypto-news/pennsylvania-lawmakers-propose-a-bill-to-allow-state-investments-in-bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> holdings now stand at 331,200 BTC, representing approximately 1.58% of Bitcoin’s total supply. This positions the company as one of the largest institutional Bitcoin holders, underscoring its belief in the cryptocurrency as a strategic reserve asset.The company reported a 20.4% Bitcoin yield from October 1 to November 17, and an impressive year-to-date yield of 41.8%, reflecting the growing value of its holdings.MicroStrategy’s approach, which involves using equity sales to fund Bitcoin purchases, remains unique among publicly traded firms, further solidifying its role as a pioneer in institutional Bitcoin adoption.As MicroStrategy continues its aggressive accumulation strategy, its actions signal strong institutional confidence in Bitcoin. This bold approach not only reinforces its belief in Bitcoin as a store of value and hedge against market volatility but also influences broader market sentiment and investor confidence in digital assets.

Key details from MicroStrategy’s recent Bitcoin acquisition

Optimisus

Other articles published on Nov 18, 2024

GIGA Token Holder Loses $6.09M in Phishing Scam

Starknet v0.13.3 Is Expected To Be Launched Mainnet This Week

Is social media hate real?

Best Meme Coins To Invest In Now, November 18 – Kishu Inu, Snek, MemesAI

Elon Musk’s Audio Recording on Bitcoin and Dogecoin Revealed

₦97M for a data platform?

Join our free newsletter for daily crypto updates!