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.