MicroStrategy Adds $1.5B in Bitcoin to Its Portfolio, Now Holds 2% of Total BTC Supply
The post MicroStrategy Adds $1.5B in Bitcoin to Its Portfolio, Now Holds 2% of Total BTC Supply appeared on BitcoinEthereumNews.com.
World-renowned Bitcoin bull MicroStrategy has made another significant acquisition of BTC, deploying billions of dollars into the crypto market for the fourth consecutive week. The company’s chairman, Michael Saylor, revealed the news in a post on X today. He disclosed that the firm had acquired an additional 15,400 BTC for approximately $1.5 billion at an average price of $95,976 per BTC. Insane: MicroStrategy Buys 15,400 BTC for $1.5 billion at $95,976 per bitcoin.https://t.co/HnxdfgwFqo — TheCryptoBasic (@thecryptobasic) December 2, 2024 With this latest purchase, MicroStrategy now holds a total of 402,100 BTC. The company built this portfolio over the past four years with a cumulative investment of $23.4 billion. This brings the average cost of each token to $58,263. Accordingly, the company now sits on an unrealized profit of $15.1 billion from its Bitcoin holdings. Saylor proudly shared that the Bitcoin portfolio has yielded a 38.7% return on a quarter-to-date basis and an impressive 63.3% return year-to-date. Fourth Straight Weekly Bitcoin Purchase This latest acquisition comes just a week after MicroStrategy made its largest Bitcoin purchase to date. Specifically, it deployed $5.4 billion to acquire 55,500 BTC at an average price of $97,862 per coin on November 25. Just seven days earlier, on November 18, the company purchased 51,780 BTC for $4.6 billion at an average price of $88,600 per coin. Meanwhile, on November 11, MicroStrategy bought 27,200 BTC with $2.03 billion. Cumulatively, MicroStrategy acquired 134,480 BTC in November alone, and this aggressive acquisition strategy has spilled into December, as MicroStrategy maintains its streak of weekly purchases. The November Bitcoin Surge MicroStrategy’s intensified Bitcoin purchases in November coincided with the outcome of the U.S. election, where pro-Bitcoin candidate Donald Trump was elected president. Trump has promised to support the creation of a Bitcoin reserve for the U.S. and to hold the…
Filed under: News - @ December 2, 2024 6:19 pm