2024

Bitcoin

Yield

In a significant move that highlights its ongoing commitment to Bitcoin, MicroStrategy has announced a massive acquisition of the cryptocurrency. Between August 6th and September 12th, the company purchased 18,300 BTC worth approximately $1.11 billion at an average price of $60,408 per Bitcoin. This latest acquisition further strengthens MicroStrategy’s position as one of the largest institutional holders of Bitcoin. 
<h2 id="details-of-the-purchase">Details of the Purchase</h2> 
The company’s founder, Michael Saylor, disclosed in his statement that this most recent acquisition added 9,245 BTC to their reserves, representing a further investment of $623 million. This significant purchase, according to Saylor, is part of the company’s broader strategy to maximize its Bitcoin holdings amid market fluctuations. 
Saylor explained that the company has achieved a 4.4% QTD (Quarter-to-Date) return and a 17% YTD (Year-to-Date) return on its Bitcoin investments. These figures demonstrate the profitability of MicroStrategy’s bold move into the cryptocurrency space. 
<img loading="lazy" loading="lazy" decoding="async" class="alignnone size-full wp-image-44358" src="https://thebitjournal.b-cdn.net/wp-content/uploads/2024/09/of-Bitcoin-purchase.-The-image-should-depict-a-transaction-or-acquisition-process-with-a-strong-emphasis-o.webp" alt="MicroStrategy Makes Massive Bitcoin Purchase: Michael Saylor Announces Latest Acquisition! = The Bit Journal" width="1792" height="1024" title="MicroStrategy Makes Massive Bitcoin Purchase: Michael Saylor Announces Latest Acquisition! 8"> 
<h2 id="microstrategy-s-total-holdings">MicroStrategy’s Total Holdings</h2> 
As of September 12, 2024, MicroStrategy now holds a total of 244,800 BTC, valued at approximately $9.45 billion. The average cost per Bitcoin for the company stands at $38,585. This long-term accumulation strategy underscores MicroStrategy’s belief in the long-term potential of Bitcoin. 
The company’s bold moves into the crypto world have made waves, positioning it as a leader in corporate cryptocurrency investments. As MicroStrategy continues to accumulate more Bitcoin, it solidifies its position in the market, especially as other corporations eye similar strategies. 
For more updates on institutional Bitcoin purchases and the latest cryptocurrency news, stay tuned to The Bit Journal. 
<blockquote class="twitter-tweet"> 
 MicroStrategy has acquired 18,300 BTC for ~$1.11 billion at ~$60,408 per <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#bitcoin</a> and has achieved BTC Yield of 4.4% QTD and 17.0% YTD. As of 9/12/2024, we hodl 244,800 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$BTC</a> acquired for ~$9.45 billion at ~$38,585 per bitcoin. <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$MSTR</a> <a href="https://t.co/WBBRSKxA1U" rel="nofollow" target="_blank">https://t.co/WBBRSKxA1U</a> 
 — Michael Saylor<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@saylor) <a href="https://twitter.com/saylor/status/1834564555944481227?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">September 13, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

MicroStrategy Makes Massive Bitcoin Purchase: Michael Saylor Announces Latest Acquisition!

Table of Contents

The Bit Journal

Other articles published on Sep 13, 2024

Polygon Upgrades $MATIC Token to $POL: What It Means for the Network and Holders

Surprise Positive Step from US Government to Binance

Grayscale’s XRP Trust Will Boost Market Confidence, Pave Way for Future ETF — Bitget Analyst Ryan...

South Korean Giant Announces Listing News: This Altcoin’s Price Skyrockets!

BTC Dominance Slips as Altcoins Gain in Mixed Crypto Market

Tether Hires Former PayPal And Chainalysis Exec To Lead Regulatory Push

Join our free newsletter for daily crypto updates!