MicroStrategy Continues Bitcoin-Buying Spree, Purchases an Additional $458,200,000 Worth of BTC

MicroStrategy, the world’s largest corporate holder of Bitcoin, has purchased an additional $458.2 million worth of BTC.

The business intelligence and “Bitcoin development” firm acquired 7,420 BTC at an average price of approximately $61,750, according to Michael Saylor, the company’s co-founder and executive chairman.

Saylor also notes that MicroStrategy has achieved a Bitcoin yield of 5.1% quarter to date and 17.8% year to date. In total, the firm now owns 252,220 BTC acquired for $9.9 billion at an average cost of approximately $39,266 per Bitcoin.

BTC is trading at $62,945 at time of writing, meaning the value of MicroStrategy’s holdings is now more than $15.8 billion.

The firm owns more than 1% of Bitcoin’s total supply and is far and away the largest corporate investor in the crypto asset. The second-largest Bitcoin corporate treasury belongs to Marathon Digital Holdings, which owns 26,200 BTC worth approximately $1.6 billion, according to BitcoinTreasuries.net.

MicroStrategy’s aggressive Bitcoin acquisition strategy appears to have benefited the company’s stock. The price of MSTR is up more than 360% in the past 12 months.

In July, the business intelligence firm announced a 10-1 stock split of its class A common stock and class B common stock to “make MicroStrategy’s stock more accessible to investors and employees.”

BTC is up nearly 20% from its September 2024 lows of around $52,550.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Source: https://dailyhodl.com/2024/09/21/microstrategy-continues-bitcoin-buying-spree-purchases-an-additional-458200000-worth-of-btc/