2024

Bitcoin

Genius

Yield

<p class="is-style-lead">Bitcoin’s largest corporate holder, MicroStrategy, has increased its total Bitcoin holdings to 386,700, according to executive chairman Michael Saylor.</p> 
<p>On Nov. 25, Saylor announced that MicroStrategy had added 55,000 Bitcoin (<a rel="" href="https://crypto.news/price/bitcoin/">BTC</a>) to its crypto treasury. The software company spent $5.4 billion on the latest purchase, acquiring tokens at an average price of $97,862 per BTC.</p> 
<p>It has cost MicroStrategy $21.9 billion to amass its Bitcoin trove since 2020. BTC’s value has appreciated over that four-period, earning Saylor’s firm more than $15.2 billion in unrealized profits. MicroStrategy’s founder said he doesn’t plan to sell any Bitcoin. </p> 
<p>Saylor <a href="https://crypto.news/michael-saylor-eyes-42b-bitcoin-buy-via-mstr-sales/" target="_blank">announced</a> a three-year roadmap to inject $42 billion into BTC and <a href="http://MicroStrategy added $4.6b in Bitcoin to holdings  Bitcoin BTC" target="_blank" rel="nofollow">fortify</a> the startup’s balance sheet with more Bitcoin.</p> 
<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">
   <p lang="en" dir="ltr">MicroStrategy has acquired 55,500 BTC for ~$5.4 billion at ~$97,862 per <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#bitcoin</a> and has achieved BTC Yield of 35.2% QTD and 59.3% YTD. As of 11/24/2024, we hodl 386,700 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$BTC</a> acquired for ~$21.9 billion at ~$56,761 per bitcoin. <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$MSTR</a> <a rel="nofollow" href="https://t.co/79ExzXk4UM" target="_blank">https://t.co/79ExzXk4UM</a></p>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1861033309934862601?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">November 25, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p> You might also like: <a rel="" href="https://crypto.news/semler-scientific-put-another-30m-in-bitcoin-boosts-atm-offering-to-100m/"> Semler Scientific adds $30m in Bitcoin, boosts ATM offering to $100m </a> </p> 
<h2 class="wp-block-heading" id="entities-jump-on-microstrategy-s-btc-wagon">Entities jump on MicroStrategy’s BTC wagon</h2> 
<p>Saylor’s success BTC sweep has roused other companies to take action. Firms like Metaplanet, Semler Scientific, and <a href="https://crypto.news/ai-startup-genius-group-picks-bitcoin-as-main-treasury-asset/" target="_blank">Genius Group</a> revealed respective BTC treasuries, aiming to capture gains from the asset’s meteoric ascent.</p> 
<p>Semler Scientific founder Eric Semler <a href="https://crypto.news/semler-scientific-put-another-30m-in-bitcoin-boosts-atm-offering-to-100m/" target="_blank">disclosed</a> $29.1 million worth of BTC buys an hour after Saylor published MicroStrategy’s addition. Both firms also have over 50% year-to-date yields from holding the world’s biggest cryptocurrency.</p> 
<h2 class="wp-block-heading" id="what-s-next-for-bitcoin">What’s next for Bitcoin?</h2> 
<p>Bitcoin recently cooled off as it neared the $100,000 mark for the first time in its history. BTC hit $99,645 on Nov. 24, following a series of record highs propelled by Donald Trump’s re-election.</p> 
<p>Price discovery appears set to push BTC into six figures, but YouHodler’s chief of markets, Ruslan Lienka, suggested a period of consolidation may occur. In an email to crypto.news, Lienka noted that altcoins might rally while Bitcoin regains strength for another push toward new all-time highs.</p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p>Over the past week, market activity has concentrated primarily on second-tier major cryptocurrencies such as XRP and SOL, while BTC has temporarily paused- this could mark the onset of an alt-season. Meanwhile, BTC is undergoing a corrective phase, likely driven by profit-taking, which may result in the price consolidating before a potential move toward the key psychological level of $100,000.</p> 
 <p>Ruslan Lienka, YouHodler chief of markets</p> 
</blockquote> 
<p> Read more: <a rel="" href="https://crypto.news/robinhood-lists-dogwifhat-meme-coin/"> Robinhood lists Dogwifhat meme coin </a> </p>

MicroStrategy’s Bitcoin plan gobbles another $5.4b

Table of Contents

crypto.news

Other articles published on Nov 25, 2024

How Two Papa John’s Pizzas Became a $1B Bitcoin Mistake

HOT Labs Awarded $500K Grant From TON Foundation to Create TON Memecoin Platform (25 Nov)

India pursues cross-border mobile payments and explores CBDCs as the future of payments

Elon Musk, the world’s richest man, hits record $348B net worth

DOGE and SOL Lead Crypto’s Bullish Trend With Record Gains

Bitcoin (BTC) Pushes Toward $100K Again, Ripple (XRP) Goes Beyond $1.5 (Market Watch)

Join our free newsletter for daily crypto updates!