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.
| DISCLAIMER: The information on this website is provided as general market commentary and. does not constitute investment advice. We encourage you to do your own research before investing. |
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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.
| DISCLAIMER: The information on this website is provided as general market commentary and. does not constitute investment advice. We encourage you to do your own research before investing. |
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