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MicroStrategy Now Holds Over 400,000 Bitcoins After $1.5 Billion Purchase

Dec 2, 2024, 01:12 PM

MicroStrategy, led by CEO Michael Saylor, has acquired an additional 15,400 Bitcoins for approximately $1.5 billion in cash between November 25 and December 1, at an average price of $95,976 per Bitcoin. This acquisition brings the company's total holdings to 402,100 Bitcoins, valued at approximately $38.4 billion, representing about 1.9% of the total Bitcoin supply. Over the past month, MicroStrategy has significantly increased its Bitcoin holdings, purchasing around 150,000 Bitcoins. To fund this latest purchase, the company sold 3.7 million shares, netting $1.48 billion. MicroStrategy has invested a total of $23.4 billion to acquire its Bitcoin holdings at an average price of $58,263 per coin, achieving a year-to-date Bitcoin yield of 63.3%. This marks the fourth consecutive weekly Bitcoin purchase by the company, reinforcing its aggressive strategy in accumulating the cryptocurrency. MicroStrategy is now the first public company to own over 400,000 Bitcoins.