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Home»Altcoin»MicroStrategy Continues Bitcoin-Buying Spree, Purchases an Additional $458,200,000 Worth of BTC
MicroStrategy Continues Bitcoin-Buying Spree, Purchases an Additional 8,200,000 Worth of BTC
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MicroStrategy Continues Bitcoin-Buying Spree, Purchases an Additional $458,200,000 Worth of BTC

adminBy adminSeptember 21, 2024No Comments2 Mins Read
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MicroStrategy, the world’s largest corporate holder of Bitcoin, has purchased an additional $458.2 million worth of BTC.

The business intelligence and “Bitcoin development” firm acquired 7,420 BTC at an average price of approximately $61,750, according to Michael Saylor, the company’s co-founder and executive chairman.

Saylor also notes that MicroStrategy has achieved a Bitcoin yield of 5.1% quarter to date and 17.8% year to date. In total, the firm now owns 252,220 BTC acquired for $9.9 billion at an average cost of approximately $39,266 per Bitcoin.

BTC is trading at $62,945 at time of writing, meaning the value of MicroStrategy’s holdings is now more than $15.8 billion.

The firm owns more than 1% of Bitcoin’s total supply and is far and away the largest corporate investor in the crypto asset. The second-largest Bitcoin corporate treasury belongs to Marathon Digital Holdings, which owns 26,200 BTC worth approximately $1.6 billion, according to BitcoinTreasuries.net.

MicroStrategy’s aggressive Bitcoin acquisition strategy appears to have benefited the company’s stock. The price of MSTR is up more than 360% in the past 12 months.

In July, the business intelligence firm announced a 10-1 stock split of its class A common stock and class B common stock to “make MicroStrategy’s stock more accessible to investors and employees.”

BTC is up nearly 20% from its September 2024 lows of around $52,550.

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