2024

Bitcoin

when

Yield

Michael Saylor’s MicroStrategy&nbsp;<a style="text-decoration:none" href="https://www.microstrategy.com/press/microstrategy-acquires-51780-btc-and-achieves-btc-yield-of-20-qtd-and-41-ytd-now-holds-331200-btc">acquired 51,780 bitcoins</a> between November 11 and November 17, 2024, for a total of $4.6 billion. This marks one of the most significant single-week purchases of Bitcoin ever recorded.
<div>
 <blockquote class="twitter-tweet">
 MicroStrategy has acquired 51,780 BTC for ~$4.6 billion at ~$88,627 per <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a> and has achieved BTC Yield of 20.4% QTD and 41.8% YTD. As of 11/17/2024, we hodl 331,200 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> acquired for ~$16.5 billion at ~$49,874 per bitcoin. <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> <a href="https://t.co/SRRtRrB2jO">https://t.co/SRRtRrB2jO</a>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1858496146026467378?ref_src=twsrc%5Etfw">November 18, 2024</a>
 </blockquote> 
</div>
According to a company announcement, the 51,780 BTC were purchased at an average price of $88,627 per bitcoin, including fees and expenses. The purchase was funded through the issuance and sale of MicroStrategy’s Class A common stock under an At-the-Market (ATM) Sales Agreement.
&nbsp;
With this latest acquisition, MicroStrategy's total Bitcoin holdings have reached 331,200 BTC. The company has invested a cumulative $16.5 billion at an average purchase price of approximately $49,874 per Bitcoin, inclusive of fees.
<h2 dir="ltr" id="span-span-breaking-down-the-atm-sales-agreement-span-span">Breaking Down the ATM Sales Agreement</h2>
MicroStrategy’s ability to fund such large purchases stems from its ATM Sales Agreement, signed on October 30, 2024. This agreement allows the company to issue and sell shares worth up to $21 billion through multiple sales agents, including major players like TD Securities and Barclays Capital.
&nbsp;
Between November 11 and November 17, MicroStrategy issued 13.6 million shares, generating $4.6 billion in net proceeds. Even after this massive sale, the company still has $15.3 billion in remaining capacity under the agreement, suggesting that future Bitcoin purchases could follow.
&nbsp;
The latest acquisition follows another substantial purchase announced just a week prior. Between October 31 and November 10, 2024, MicroStrategy&nbsp;<a style="text-decoration:none" href="https://www.microstrategy.com/press/microstrategy-announces-btc-atm-activity-raised-2-billion-purchased-27200-btc-now-holds-279420-btc-with-btc-yield-of-26-ytd">acquired 27,200 bitcoins</a> for $2.03 billion, at an average price of $74,463 per Bitcoin.
<h2 dir="ltr" id="span-span-microstrategy-s-bitcoin-bet-span-span">MicroStrategy’s Bitcoin Bet</h2>
MicroStrategy’s massive Bitcoin holdings coincide with its long-term vision. Michael Saylor, the company's founder and executive chairman, has been an outspoken advocate of Bitcoin as a store of value and inflation hedge.
&nbsp;
This latest step strengthens MicroStrategy’s position as the largest corporate holder of Bitcoin by a significant margin. The company’s holdings now account for roughly 1.5% of Bitcoin’s total supply.
&nbsp;
MicroStrategy's purchase comes at a time when Bitcoin is trading near its all-time high. Following the news of acquisition on Nov. 11, Bitcoin's price&nbsp;<a style="text-decoration:none" href="https://coinmarketcap.com/currencies/bitcoin/">surged over $93,000</a>, marking its highest level since November 2021.&nbsp;

Michael Saylor’s MicroStrategy Expands its Bitcoin Reserves to 331,000 With Latest Acquisition

Table of Contents

BSCN

Other articles published on Nov 19, 2024

Important Report on Bitcoin Economy from JPMorgan: “There is Serious Progress”

Shiba Inu co-founder criticizes Litecoin for its identity change

Stablecoins Hit Record High Supply Hinting Further Bullish Momentum

Membrane Finance Acquisition By Paxos Targets EU Expansion

Coinbase Removes Wrapped Bitcoin from Listings

Polyhedra and Berkeley RDI launch first production-ready zkML system

Join our free newsletter for daily crypto updates!