Michael Saylor Doubles Down on Bitcoin Accumulation
MicroStrategy, the top corporate Bitcoin investor, continues to bolster its crypto reserves. Its latest acquisition of 15,400 BTC amounted to $1.5 billion, purchased at an average price of $95,976 per coin.
On this page
MicroStrategy, the top corporate Bitcoin investor, continues to bolster its crypto reserves. Its latest acquisition of 15,400 BTC amounted to $1.5 billion, purchased at an average price of $95,976 per coin.
Michael Saylor, the CEO of MicroStrategy, took to his official X account to share the update.
According to an SEC filing, MicroStrategy raised $1.48 billion by selling shares to fund its recent Bitcoin purchase. This marks the fourth straight week of aggressive acquisitions.
Last week, the company acquired 55,500 BTC for $5.4 billion, following a $4.6 billion purchase the previous week. In September, Saylor announced an additional 4,720 BTC purchase worth $458.2 million.
MicroStrategy now holds 402,100 BTC, with a market valuation of approximately $38 billion.
The company’s “Bitcoin Yield,” reflecting the relative value increase of its Bitcoin holdings per share, surged to 63% year-to-date as of December 2.
With over 1.7% of the total Bitcoin supply, MicroStrategy has secured a position among the top 100 largest publicly traded U.S. companies by market capitalization.
With these moves, MicroStrategy solidifies its belief in Bitcoin as a cornerstone of its long-term strategy for navigating the cryptocurrency market. The firm envisions Bitcoin as the future of digital gold and a key store of value.
Read on: MicroStrategy’s Next Move: Bitcoin Bank?
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
