MicroStrategy Makes Record $4.6 Billion Bitcoin Purchase, Largest Yet
Business intelligence firm MicroStrategy has increased its investment in Bitcoin (BTC) following President-elect Donald Trump’s victory in the presidential election. The pivotal moment on November 5 provided a catalyst for the broader cryptocurrency market, further encouraging investment in digital assets.
Bitcoin holdings exceed $29 billion
Led by Bitcoin advocate Michael Saylor, MicroStrategy revealed on Monday that it had acquired approximately 51,780 Bitcoins for approximately $4.6 billion. This acquisition marks Maximum purchase quantity The company has been focusing on the issue since it began its Bitcoin buying strategy more than four years ago.
according to a Archive The SEC purchased the tokens between November 11 and 17. With this latest acquisition, MicroStrategy’s total Bitcoin holdings now exceed $29 billion or 331,200 BTC.
Saylor’s Bitcoin journey begins in 2020 strategy to hedge against inflation. The company initially raised capital through cash reserves and later turned to using proceeds from stock offerings and convertible debt sales to bolster its buying power in the cryptocurrency market.
Michael Thaler also reiterate his commitment to this strategy. He aims to raise $42 billion over the next three years to further strengthen the company’s BTC portfolio and transform Microstrategy into a leading cryptocurrency bank.
Bitcoin yield rises to 20.4% amid market optimism
latest data South Korean crypto analytics firm CryptoQuant highlighted the impact of MicroStrategy’s latest purchases on its Bitcoin statistics:
- BTC holdings: increased from 279,420 BTC to 331,200 BTC
- MSTR realized price: from $42,692 to $49,874
- MSTR Market Cap and Realized Value (MVRV): Adjusted from 2.12 to 1.80
- MicroStrategy’s proportion of BTC held: increased from 1.412% to 1.674%
This latest deal comes on the heels of another major deal Acquired on November 11During this period, Saylor noted that the company’s finance business has gained 7.3% in Bitcoin, which represents a net gain of approximately 18,410 Bitcoin for shareholders.
However, following Monday’s announcement and the significant upward trend in Bitcoin prices over the past two weeks, Thaler disclose These metrics have risen to a BTC yield of 20.4%, resulting in a net gain of 51,470 BTC for shareholders.
correlation between MicroStrategy stock (MSTR) and Bitcoin prices have also been particularly noteworthy in recent weeks. Following Bitcoin’s all-time high of $93,300 on November 13, MicroStrategy’s stock price also reached an all-time high of $383.
However, as the market-leading digital asset retreated to around $90,650 (up 9% over the past week), MSTR’s share price also fell to approximately $359 over the weekend, highlighting the strong relationship between cryptocurrencies and the company’s stock performance.
Featured images from DALL-E, charts from TradingView.com
