Outside Source
The business intelligence giant founded and guided by Michael Saylor has done it again on a Monday, breaking its own record for the largest single bitcoin purchase.
In this week’s edition, MicroStrategy said it bought 55,500 BTC for an average price of just under $98,000.
MicroStrategy has acquired 55,500 BTC for ~$5.4 billion at ~$97,862 per #bitcoin and has achieved BTC Yield of 35.2% QTD and 59.3% YTD. As of 11/24/2024, we hodl 386,700 $BTC acquired for ~$21.9 billion at ~$56,761 per bitcoin. $MSTR https://t.co/79ExzXk4UM
— Michael Saylor⚡️ (@saylor) November 25, 2024
It has now become almost a tradition – the business week begins with a noteworthy BTC purchase from the world’s largest holder of the asset.
After last week’s $4.6 billion acquisition (51,780 BTC), which Saylor himself labeled as the biggest single bitcoin buy, the company has gone on a tear again, breaking its own record.
MicroStrategy’s former CEO announced the latest purchase for 55,500 BTC, worth roughly $5.4 billion, at an average price of $97,862 per bitcoin. This puts the firm’s total stash at 386,700 BTC, bought at an average price of $56,761.
In total, the firm has spent almost $22 billion to acquire its cryptocurrency fortune. Given BTC’s current price of roughly $98,000, that stash is now worth almost $38 billion – or, more than $16 billion in paper profit.
MicroStrategy’s stock prices have been on a roll since the incorporation of the bitcoin strategy. Since the start of the year alone, MSTR have skyrocketed by more than 500%, despite the recent dip.
The interest in MSTR has picked up as well, as there are certain examples where the trading volumes have surpassed those for Apple, Amazon, and Meta – combined.
This article first appeared at CryptoPotato
