2024

Bitcoin

Yield

Bold

MicroStrategy, the business intelligence firm led by Michael Saylor,&nbsp;<a style="text-decoration:none" href="https://www.microstrategy.com/press/microstrategy-acquires-18300-btc-achieves-btc-yield-of-4-qtd-17-ytd-now-holds-244800-btc">announced</a> its largest Bitcoin acquisition in over three years. The company announced to purchase another 18,300 Bitcoin, worth around $1.11 billion on Sept. 13, raising its total Bitcoin holdings to 244,800 BTC.&nbsp;
<div>
 <blockquote class="twitter-tweet">
 MicroStrategy has acquired 18,300 BTC for ~$1.11 billion at ~$60,408 per <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a> and has achieved BTC Yield of 4.4% QTD and 17.0% YTD. As of 9/12/2024, we hodl 244,800 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> acquired for ~$9.45 billion at ~$38,585 per bitcoin. <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> <a href="https://t.co/WBBRSKxA1U">https://t.co/WBBRSKxA1U</a>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1834564555944481227?ref_src=twsrc%5Etfw">September 13, 2024</a>
 </blockquote> 
</div>
This makes MicroStrategy as one of the largest institutional holders of Bitcoin worldwide.
<h2 dir="ltr" id="span-span-a-strategic-bitcoin-acquisition-span-span">A Strategic Bitcoin Acquisition</h2>
MicroStrategy revealed in a statement that it acquired these new bitcoins between August 6 and September 12, 2024. The purchase was made using proceeds from the sale of company shares, at an average price of $60,408 per Bitcoin.&nbsp;
&nbsp;
This approach has allowed MicroStrategy to raise substantial capital without relying on traditional debt financing. The company also&nbsp;<a style="text-decoration:none" href="https://www.microstrategy.com/press/microstrategy-announces-10-for-1-stock-split_07-11-2024">conducted a 10-for-1 stock split</a> in August 2024 to make its shares more accessible to a broader group of investors and employees.
&nbsp;
The recent purchase brings the company’s total Bitcoin investment to approximately $9.45 billion, at an average purchase price of $38,585 per Bitcoin.
&nbsp;
With this latest acquisition, MicroStrategy’s Bitcoin holdings are now valued at around $14 billion at current market prices, which average $58,000 per BTC.
<h2 dir="ltr" id="span-span-microstrategy-s-bold-bitcoin-strategy-span-span">MicroStrategy’s Bold Bitcoin Strategy</h2>
MicroStrategy began its journey into Bitcoin in 2020 as part of its capital allocation strategy. Michael Saylor has consistently promoted Bitcoin as a hedge against inflation and a superior store of value compared to traditional fiat currencies. Since then, the company has steadily accumulated Bitcoin, becoming a key player in the cryptocurrency space.
&nbsp;
The&nbsp;<a style="text-decoration:none" href="https://finance.yahoo.com/quote/MSTR/">company’s shares</a> have more than doubled in value this year, outperforming Bitcoin, which has seen a 40% increase in price over the same period.&nbsp;
&nbsp;
The recent acquisition strengthens MicroStrategy's leadership in the Bitcoin market.&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/how-much-bitcoin-does-tesla-hold?bmvxdgfwy14141%2F=">Tesla</a>, another major firm holding Bitcoin, and a few crypto-focused companies, are among the limited number of publicly traded firms following a similar strategy.
<h2 dir="ltr" id="span-span-microstrategy-s-place-in-the-bitcoin-ecosystem-span-span">MicroStrategy’s Place in the Bitcoin Ecosystem</h2>
With 244,800 Bitcoin in its treasury, MicroStrategy now holds more than 1% of all Bitcoin ever issued.&nbsp;
&nbsp;
BlackRock’s iShares Bitcoin Trust, with around $20 billion in assets, remains the world’s largest Bitcoin fund. However, MicroStrategy's $14 billion Bitcoin portfolio is now one of the largest holdings among non-fund entities.
&nbsp;
Besides its substantial Bitcoin holdings, MicroStrategy has developed a metric called BTC yield to track the percentage change in its Bitcoin holdings to its diluted shares over a given period. Saylor announced that the company achieved a 4.4% BTC yield for the quarter and a 17% year-to-date yield.&nbsp;

MicroStrategy Buys Another $1.11B in Bitcoin, Reaches 244,800 BTC Holdings

Table of Contents

BSCN

Other articles published on Sep 26, 2024

Helium Mobile partners with University of Southern California’s Trojans

US Economic Data Boosts Bitcoin Value

Coinpedia Fintech News

TON Foundation Partners with Curve Finance to Launch Stablecoin Swap Project

Coinpedia Fintech News

Chainlink Whales Accumulate 8.5M LINK in Six Weeks, Driving Price Surge

Join our free newsletter for daily crypto updates!