MicroStrategy Buys 55,500 Bitcoins for $5.4B, Holdings Reach 386,700 BTC

Nov 25, 2024, 01:15 PM

MicroStrategy Inc., led by CEO Michael Saylor, has made the largest-ever single-day Bitcoin purchase, acquiring an additional 55,500 Bitcoins for approximately $5.4 billion between November 18 and November 24, 2024. The company acquired the Bitcoins at an average price of around $97,862 per coin. This purchase brings MicroStrategy's total Bitcoin holdings to 386,700 Bitcoins, acquired at an aggregate cost of approximately $21.9 billion, with an average purchase price of $56,761 per Bitcoin. The company's Bitcoin holdings are now valued at approximately $37.9 billion, reflecting significant gains amid the recent surge in Bitcoin's price. MicroStrategy reported a quarter-to-date Bitcoin yield of 35.2% and a year-to-date yield of 59.3%. Shares of MicroStrategy rose 3% in pre-market trading following the announcement. This purchase marks the third acquisition this month as MicroStrategy continues to rapidly increase its Bitcoin holdings, solidifying its position as one of the largest institutional holders of the cryptocurrency.