MicroStrategy Increases Its Bitcoin Stash by 18,300 Coins

MicroStrategy’s recent BTC purchases have taken its total holdings to 244,800 coins.

Michael Saylor’s MicroStrategy added 18,300 bitcoin (BTC) to its holdings between August 6 and September 12, growing its BTC stash to 244,800. Co-founded by Saylor in 1989 as a software company, MicroStrategy has taken a new form in recent years, centering BTC acquisition as a key objective alongside providing business intelligence and software services.

Last week’s BTC acquisition was made at an average price of $60,408 per coin, according to Saylor. The company has tapped into a BTC yield of 4.4% quarter-to-date (QTD) and 17% year-to-date. BTC yield is a concept the company developed to quantify the percentage change of the ratio between its holdings and diluted outstanding shares over time.  The cost basis for its entire BTC holdings stands at about $9.45 billion, amounting to an average acquisition price of around $38,585 per coin.

Saylor’s X post from last week detailed the numbers. “MicroStrategy has acquired 18,300 BTC for ~$1.11 billion at ~$60,408 per #bitcoin and has achieved BTC Yield of 4.4% QTD and 17.0% YTD. As of 9/12/2024, we hodl 244,800 $BTC acquired for ~$9.45 billion at ~$38,585 per bitcoin.”

Furthermore, a report submitted to the SEC about the BTC purchases offers an in-depth look at the BTC yield metric mentioned in Saylor’s post. “BTC Yield is a KPI that represents the % change period-to-period of the ratio between the Company’s bitcoin holdings and its Assumed Diluted Shares Outstanding.” It continued, “The Company uses BTC Yield as a KPI to help assess the performance of its strategy of acquiring bitcoin in a manner the Company believes is accretive to shareholders.”

MicroStrategy embarked on adding BTC to its reserves in 2020, with its reserves growing to hold the largest amount of BTC of any publicly listed company worldwide.