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How will MicroStrategy's stock price change by January 31, 2025?
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MicroStrategy Buys 27,200 Bitcoins at $74,463 Each, Holdings Worth Over $22 Billion
Nov 11, 2024, 01:07 PM
MicroStrategy has acquired an additional 27,200 bitcoins between October 31 and November 10 for approximately $2.03 billion in cash, at an average price of $74,463 per bitcoin. This purchase brings the company's total holdings to 279,420 bitcoins, acquired at a total cost of approximately $11.9 billion, with an average purchase price of $42,692 per bitcoin. With Bitcoin's price surpassing $80,000, the company's holdings are now worth over $22 billion, resulting in an unrealized profit exceeding $10 billion. The latest acquisition is one of the largest purchases of the digital asset by the company, funded through at-the-market (ATM) sales raising $2.03 billion. CEO Michael Saylor announced that MicroStrategy achieved a Bitcoin yield of 7.3% quarter-to-date and 26.4% year-to-date. Following the announcement, MicroStrategy's shares rose by 9% in premarket trading.
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