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MicroStrategy Buys 27,200 Bitcoin at $74,463 Each, Boosting Holdings to 279,420 BTC Worth Over $22 Billion

Nov 11, 2024, 01:09 PM

MicroStrategy announced that it has acquired an additional 27,200 Bitcoin between October 31st and November 10th for approximately $2.03 billion in cash, at an average purchase price of $74,463 per Bitcoin. This purchase increases MicroStrategy's total Bitcoin holdings to 279,420 BTC, acquired at a total cost of about $11.9 billion, with an average price of $42,692 per Bitcoin. The company, the largest public holder of Bitcoin, raised $2.03 billion through ATM sales to fund the acquisition. MicroStrategy cites achieving a Bitcoin yield of 7.3% quarter-to-date and 26.4% year-to-date. The company's Bitcoin holdings are now valued at over $22 billion, representing a profit of approximately $10 billion.