MicroStrategy Announces Massive $1.1 Billion Bitcoin (BTC) Purchase
Michael Saylor, the co-founder and current chairman of MicroStrategy, announced the latest massive BTC purchase his company made.
With it, the business intelligence software giant’s total Bitcoin stash skyrocketed to 244,800 BTC, worth more than $14 billion at current prices.
MicroStrategy has acquired 18,300 BTC for ~$1.11 billion at ~$60,408 per #bitcoin and has achieved BTC Yield of 4.4% QTD and 17.0% YTD. As of 9/12/2024, we hodl 244,800 $BTC acquired for ~$9.45 billion at ~$38,585 per bitcoin. $MSTR https://t.co/WBBRSKxA1U
— Michael Saylor (@saylor) September 13, 2024
The world’s largest corporate holder of Bitcoin spent just over $1.1 billion for its 18,300 BTC purchase at an average price of $60,408 per one.
According to data until September 12, the firm now holds 244,800 BTC, which it acquired for $9.45 billion. This means that the company now stands at an unrealized profit of nearly $5 billion. This is because its average acquisition price stands at $38,585 per bitcoin.
Recall that MicroStrategy began its BTC accumulation strategy just over four years ago – back in August 2020. The firm hasn’t looked back since, with frequent new purchases.
Saylor, who stepped down as the company’s CEO a few years ago, has previously asserted that he will “buy Bitcoin forever.” He has become among the most prominent BTC bulls, predicting massive price tags for the asset of up to $13 million per one.
The post MicroStrategy Announces Massive $1.1 Billion Bitcoin (BTC) Purchase appeared first on CryptoPotato.
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