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MicroStrategy's stock price performance vs. Bitcoin price by end of 2024
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Story
MicroStrategy Buys 51,780 Bitcoins at $88,627 Each; Holdings Worth $30B Surpass IBM, Nike Cash
Nov 18, 2024, 01:09 PM
MicroStrategy Inc. has significantly expanded its Bitcoin holdings by acquiring an additional 51,780 Bitcoins for $4.6 billion between November 11 and November 17, 2024. The latest purchase was made at an average price of $88,627 per Bitcoin. This brings the company's total Bitcoin holdings to 331,200 Bitcoins, acquired for approximately $16.5 billion at an average price of $49,874 per Bitcoin. The total value of MicroStrategy's Bitcoin reserve now exceeds $30 billion, surpassing the cash holdings of major corporations such as IBM, Nike, and Johnson & Johnson. The company funded the acquisition using proceeds from share sales, underscoring its commitment to its Bitcoin investment strategy.
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