MicroStrategy Buys Big, 27,200 New Bitcoins Added, Total Holdings Reach $11.9 Billion
From October 31 to November 10, 2024, MicroStrategy invested nearly $2.03 billion to buy 27,200 Bitcoin, paying an average of $74,463 each. This big purchase shows the company’s strong dedication to its bold Bitcoin strategy. They funded the buy by selling about 7.8 million shares, raising close to $2 billion. This approach matches MicroStrategy’s ambitious goal of continuing to grow its Bitcoin holdings.
The Record-Breaking Bitcoin Holdings of MicroStrategy
As of right now, MicroStrategy has 279,420 Bitcoin, valued at $11.9 billion. The company’s strategy of purchasing Bitcoin during market variations is shown in its average acquisition price of $42,692.
Consequently, this puts MicroStrategy in an unrealized profit position of around $11.4 billion, with Bitcoin currently trading above $87,000. The recent acquisition further solidifies MicroStrategy’s position as the largest corporate holder of Bitcoin, placing it well ahead of Marathon Digital and Riot Platforms, which collectively hold less than $3 billion in BTC.
Funding Strategy and Stock Performance Surge
To fuel its Bitcoin accumulation, MicroStrategy announced a unique “21/21” funding plan earlier. MicroStrategy is to raise $21 billion in debt and another $21 billion in equity over the next three years. The company’s stock has also increased together with Bitcoin’s rally, increasing by over 500% this year and ahead of most S&P 500 companies.
Notably, following Donald Trump’s recent election victory, MicroStrategy’s stock surged 19.9% on November 8. This upward momentum came just before the firm’s latest Bitcoin purchase, underscoring the stock’s sensitivity to Bitcoin’s price movements.
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