The post MicroStrategy Bitcoin Purchase Expands Again With $2.1 Billion appeared on BitcoinEthereumNews.com.

Key Points: MicroStrategy Bitcoin purchases resume for $2.1 billion between December 2 and December 8, 2024. The company’s Bitcoin portfolio has generated over $16 billion in profits, reflecting a 64.1% return on investment. Publicly traded business intelligence firm MicroStrategy has reaffirmed its commitment to Bitcoin with a massive new purchase despite already generating over $16 billion in profits from its cryptocurrency holdings. Read more: MicroStrategy Bitcoin Investment Yields Over 38% in November New MicroStrategy Bitcoin Purchase Continues At $98,783 On December 9, 2024, the company announced that it had bought an additional 21,550 Bitcoins between December 2 and December 8. This additional MicroStrategy Bitcoin purchase was at an average price of $98,783 per Bitcoin and cost $2.1 billion. This investment has been made possible by the successful sale of $3 billion in convertible bonds, concluded on November 22, as part of an ongoing capital-raising initiative. The co-founder and executive chairman of MicroStrategy, Michael Saylor, disclosed that the total Bitcoin holdings of his firm have accumulated at an average price per coin of $60,324, which means it has spent about $25.6 billion, including fees and expenses, to create its giant portfolio. MicroStrategy Moves Forward with $42 Billion Capital-Raising Plan MicroStrategy Bitcoin purchase has been funded through a combination of different debt and equity offerings in which this company holds a total of $9 billion in shares to be sold within the scope of this very ambitious $42 billion plan undertaking over the next three years, split equally between equity and fixed-income securities. Currently, the value of MicroStrategy’s Bitcoin investment stands at approximately 64.1% on the $25.6 billion reserve. MicroStrategy also raised its Bitcoin Yield, which roughly measures the percentage increase in Bitcoin holdings relative to the diluted shares it captures, from 68.7% year-over-year to date. DISCLAIMER: The information on this website is…

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Filed under: News - @ December 9, 2024 3:24 pm