MicroStrategy Bitcoin Holdings Officially Increase To $23 Billion

While some investors hesitate to acquire Bitcoin (BTC) as it reaches new record highs, MicroStrategy has reinforced its commitment to the flagship cryptocurrency. On November 11th, the business intelligence company announced that it had purchased 27,200 BTC for approximately $2.03 billion in cash.

These acquisitions took place between October 31st and November 10th, with an average purchase price of $74,463 per Bitcoin, including associated fees and expenses. MicroStrategy has been the most notable institutional name when it comes to buying Bitcoin over the years.

A Huge Investment

With this latest purchase, MicroStrategy now has a total Bitcoin holdings amount of 279,420 BTC, valued at almost $23 billion based on current market prices. To fund these acquisitions, MicroStrategy utilized proceeds via the sale of its own shares. The company had entered into sales agreements on August 1st and October 30th, and by November 10th, it had sold around 7.8 million shares, raising about $2 billion in the process.

MicroStrategy also reported that its Bitcoin yield, a key metric of its acquisition strategy, was 7.3% between October 1st and November 10th. Year-to-date, the yield stands at 26.4%. The announcement by MicroStrategy coincided with a significant increase in stock price, which surged 19.9% on November 8th.

Massive Returns

On November 10th, the Saylor Tracker revealed that the overall Bitcoin return on investment for MicroStrategy had already exceeded 100%. At that point, the total value of its Bitcoin holdings had managed to surpass $20.5 billion, even before including the recent purchase.

According to BitcoinTreasuries data, MicroStrategy has now acquired Bitcoin 42 times at an average price of $39,292 per coin. It remains the largest corporate holder of Bitcoin, followed by Marathon Digital and Riot Platforms, which hold Bitcoin valued at around $2.1 billion and $840 million, respectively.