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MicroStrategy Buys 55,500 Bitcoins; Holdings Reach 386,700 BTC Worth $37.9 Billion

Nov 25, 2024, 01:11 PM

MicroStrategy Inc., led by CEO Michael Saylor, has acquired an additional 55,500 Bitcoins for approximately $5.4 billion between November 18 and 24, 2024, at an average price of $97,862 per Bitcoin. This purchase, the company's third Bitcoin acquisition this month, is the largest single Bitcoin purchase to date and brings its total holdings to 386,700 Bitcoins. MicroStrategy aims to own 4% of Bitcoin's supply by 2033 and has raised $42 billion for Bitcoin purchases. The company's aggregate investment in Bitcoin now totals approximately $21.9 billion, with an average purchase price of $56,761 per Bitcoin. The current value of its holdings is estimated at $37.9 billion. The latest acquisition reflects MicroStrategy's continued commitment to expanding its Bitcoin portfolio, advancing Saylor's vision of positioning the firm as a leading 'Bitcoin bank.' The company's Bitcoin yield stands at 35.2% quarter-to-date and 59.3% year-to-date, indicating significant returns on its investments this year. MicroStrategy is eyeing a $600 stock price target by 2025.