News

MicroStrategy Bitcoin Investment Continues to Boost With 27,200 BTC Added

Key Points:

  • MicroStrategy purchased 27,200 BTC for about $2.03 billion, bringing its total holdings to 279,420 BTC.
  • MicroStrategy Bitcoin investments have now generated a profit of $10.8 billion.
MicroStrategy announced the purchase of 27,200 BTC for about $2.03 billion, taking its total holdings of Bitcoin to 279,420 BTC.

Read more: MicroStrategy Founder Michael Saylor Criticized For Controversial Proposal

MicroStrategy Bitcoin Investment Keeps Growing as Company Acquires $2 Billion Worth

The latest purchase was made at an average price of $74,463 per coin. This brings the total number of MicroStrategy Bitcoin investments to approximately $11.9 billion at an average price of $42,692 per coin.

The purchase was done under the share sales program of the company. MicroStrategy sold 7.85 million shares under its ATM offering program in order to raise $2.03 billion, with the transactions being handled in conjunction with financial service providers such as TD Securities, Barclays Capital and BTIG. It intends to keep selling shares as part of its ongoing effort to finance more Bitcoin purchases.

MicroStrategy Plans to Spend $42 Billion on Bitcoin in the Future

As of November 11, 2024, MicroStrategy Bitcoin investment profit reached roughly $10.8 billion due to the recent surge in the price of Bitcoin. The firm marks this as an unrealized profit and indicates that the company continues to dominate as the largest corporate holder of Bitcoin by a big margin. It takes a significant lead over competitors like Marathon Digital, with $2.1 billion in BTC, and Riot Platforms, holding a value of $840 million.

The latest purchase by MicroStrategy follows the quarterly sales report of $116 million, which lagged behind estimates of $122.66 million and a year-to-date yield of 17.8%, reported on October 30. Despite missing earnings estimates, the company has outlined plans to raise an additional $42 billion for future Bitcoin acquisitions.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Qubetics, Cosmos, and Chainlink: Why These Cryptos Are Your Best Bet for November 2024

Discover why Qubetics, Cosmos, and Chainlink are the best cryptos to buy in November 2024.…

2 hours ago

Best Cryptos to Buy in December 2024: Qubetics Presale Goes Ballistic as Ethereum and Quant Look to Build Momentum

Best Cryptos to Buy in December 2024: Qubetics ($TICS) presale explodes, Ethereum (ETH) eyes a…

5 hours ago

USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products

Palo Alto, California, 21st November 2024, Chainwire

7 hours ago

Best Cryptos to Buy: Qubetics Set to Rise, Bitcoin Knocks at $100k Milestone, Avalanche to Release 1.67M Tokens

Best Cryptos to Buy: Qubetics presale rockets ahead, Bitcoin nears $100k, and Avalanche prepares to…

7 hours ago

Ike Goes Live on Mainnet: Unlocking Liquid Staking on Aleph Zero

London, United Kingdom, 21st November 2024, Chainwire

8 hours ago

Native USDC on Aptos Coming Soon to Boost DeFi and P2P Transactions

The move will see developers utilize USDC on Aptos in creating dApps on a wide…

8 hours ago

This website uses cookies.