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MicroStrategy increases Bitcoin holdings with 27,200 BTC purchase

  • Michael Saylor announced that MicroStrategy has acquired 27,200 Bitcoin valued at $2 billion. 
  • The purchase comes amid the company's plans to raise $42 billion over the next three years.
  • MicroStrategy now owns 279,420 Bitcoin purchased for $11.9 billion at an average price of $42,692 per BTC.

MicroStrategy announced in a post on Monday that it has acquired 27,200 Bitcoin for $2 billion, bringing its total BTC holdings to 279,420 BTC.

MicroStrategy buys $2 billion worth of Bitcoin as market continues uptrend

Business intelligence firm MicroStrategy has doubled down on its Bitcoin treasury by acquiring an additional 27,200 BTC, according to an announcement on its website confirmed by CEO Michael Saylor. The company's new purchase was made between October 31 and November 10 at an average price of $74,463 per BTC. 

MicroStrategy revealed that it purchased the new Bitcoin from the proceeds of issuing and selling shares. 

The company entered into a sales agreement on August 1 and October 30, and by November 10, it had sold around 7.8 million shares, raising approximately $2 billion. This funding strategy has been crucial for MicroStrategy as it continues to expand its Bitcoin holdings.

With its latest Bitcoin purchase, MicroStrategy now holds 279,420 BTC at an aggregate price of $11.9 billion and an average price of $42,692 per BTC.

The company previously stated that it planned to raise $42 billion over the next three years as part of its 21/21 plan. The capital, which will include $21 billion of equity and $21 billion of debt offerings, would be used to purchase more Bitcoin.

Additionally, MicroStrategy revealed that its Bitcoin treasury yield between October 1 and November stood at 7.3%, while its year-to-date yield is at 26.4%.

BTC Yield is a key performance indicator (KPI) that measures the percentage change over time in the ratio of MicroStrategy's Bitcoin holdings to its Assumed Diluted Shares Outstanding. 

MicroStrategy's aggressive purchase comes amid Bitcoin's continued rise. Over the weekend, it smashed the $80K price level and climbed to a new high of $82,937 at the time of writing. 

Bitcoin has risen 4% in the past 24 hours, extending its weekly gains to 21%.

Author

Michael Ebiekutan

With a deep passion for web3 technology, he's collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3's transformative potential across diverse sectors. In addition to

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