MicroStrategy Buys Another 51 Bitcoins for $780 Billion

HappyCoinNews2024/11/19 08:22

By:HappyCoinNews

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Software developer MicroStrategy continues to accumulate bitcoin. On November 18, the company reported that it had purchased another 51,780 BTC worth $4,6 billion. The average purchase price was $88,627 per coin. In total, the organization purchased about 80,000 BTC in November.

MicroStrategy Acquires 51,780 BTC for $4,6 Billion at $88,627 Bitcoin and achieved a BTC return of 20,4% for the quarter and 41,8% for the year, wrote the company's founder and CEO Michael Saylor.

The latest acquisition was MicroStrategy's largest ever, accounting for more than 16% of all bitcoins the company holds, according to CryptoQuant.

Taking into account the latest purchase, MicroStrategy has about 331 bitcoins on its balance sheet, for which the company paid $200 billion. The average price of BTC is $16,5 per coin. Unrealized profits from crypto assets have already exceeded $49,874 billion.

MicroStrategy, founded by Michael Saylor, has made its first investment in Bitcoin four years ago, buying $250 million worth of BTC in August 2020. Since then, Bitcoin became the company's main reserve currency.

MicroStrategy is currently the largest corporate holder of Bitcoin in the world, according to Bitcoin Treasuries.

MicroStrategy Buys Another 51 Bitcoins for $780 Billion image 0

Corporate Bitcoin Holders

Saylor's company plans to raise $42 billion over the next three years to replenish Bitcoin -assets. The plan, dubbed the "21/21 Plan," calls for raising $21 billion in equities and $21 billion in fixed-income securities over the next three years.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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