MicroStrategy Purchases Extra 51,780 Bitcoin for $4.6B

TL;DR

• Michael Saylor’s MicroStrategy has purchased 51,780 bitcoins for $4.6 billion.

• The software development company now holds 331,200 bitcoins acquired for roughly $16.5 billion and worth just shy of $30 billion.

MicroStrategy Adds Another 51k Bitcoins to its Stash

Software development company MicroStrategy has purchased 51,780 tokens for $4.6 billion. The company’s chairman, Michael Saylor, announced this latest development in an X post on Monday. 

MicroStrategy has acquired 51,780 BTC for ~$4.6 billion at ~$88,627 per #bitcoin and has achieved BTC Yield of 20.4% QTD and 41.8% YTD. As of 11/17/2024, we hodl 331,200 $BTC acquired for ~$16.5 billion at ~$49,874 per bitcoin. $MSTR https://t.co/SRRtRrB2jO

— Michael Saylor⚡️ (@saylor) November 18, 2024

Thanks to this latest development, MicroStrategy now holds 331,200 BTC, which it acquired for about $16.5 billion. At the current price of around $90,000, those holdings are worth just less than $30 billion.

MicroStrategy sold roughly 13.6 million shares for $4.6 billion and used the funds to buy more bitcoins. The company added that it could also sell $15.3 billion of stock under its market share issuance program and could use the funds to acquire bitcoins. 

This latest development comes roughly a week after MicroStrategy purchased 27,200 bitcoins for $2 billion. In the last few weeks, the company purchased 72,000 BTC for $6.6 billion.

MSTR shares are up 400% year-to-date, with its stock value now correlating with Bitcoin’s performance.