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MicroStrategy Acquires $4.6B Bitcoin as Price Nears Record High

MicroStrategy invests $4.6B in Bitcoin, pushing total holdings to $16.5B as BTC hits record highs

3 minNovember 19, 2024

Highlights:

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MicroStrategy buys 51,780 BTC for $4.6B, increasing total holdings to 331,200 BTC.

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The purchase was funded by proceeds from a recent $4.6B share sale.

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MicroStrategy’s total Bitcoin holdings now exceed $16.5B, making it the largest institutional holder.

MicroStrategy Acquires $4.6B Bitcoin as Price Nears Record High

MicroStrategy recently bought 51,780 Bitcoin for $4.6 billion. This purchase comes as Bitcoin hits new highs. The company continues to grow its Bitcoin holdings, securing its place as the largest institutional holder.

 

A Major Acquisition Boosts Holdings

 

On November 18, MicroStrategy announced the purchase of 51,780 Bitcoin at $88,627 each. This move pushes the company’s total Bitcoin holdings to 331,200 BTC, valued at $16.5 billion, at $49,874 per coin.

 

 

MicroStrategy used proceeds from a share sale to fund the purchase. Between November 11 and 13, the company sold 13.6 million shares for $4.6 billion. 

 

This sale gave the company the funds needed to make the acquisition. As of November 17, MicroStrategy still has $15.3 billion worth of shares available for future sales.

 

Bitcoin Surges to New Heights

 

This Bitcoin acquisition comes during a time of record-breaking prices. On November 12, Bitcoin crossed the $90,000 mark for the first time. The next day, Bitcoin hit a new all-time high of $92,400.

 

MicroStrategy first invested in Bitcoin in 2020. Since then, the company has built a reputation as the largest institutional holder of Bitcoin. Michael Saylor, the founder, has led this strategy, making Bitcoin the company’s primary reserve asset.

 

MicroStrategy’s latest purchase shows its confidence in Bitcoin’s future. With Bitcoin continuing to break records, the company’s strategy seems focused on long-term growth.

 

 

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