MicroStrategy is back on the bitcoin purchasing market by allocating another $2 billion to accumulate more than 27,000 BTC.
It’s worth noting that the Michael Saylor-founded company now sits at a paper profit of around $11 billion given BTC’s recent price explosion.
The former CEO announced the latest acquisition on X, indicating that the firm’s total stash has now surged to 279,420 purchased to an averaged price of $42,692 per bitcoin. This means that MicroStrategy has spent in total approximately $11.9 billion.
Keeping in mind BTC’s current price tag of roughly $82,000, this means that the Wall Street-listed company’s holdings are worth over $22.9 billion. As such, it sits on a paper profit of roughly $11 billion.
MicroStrategy began its BTC accumulation strategy in mid-2020 and has made countless acquisitions since then with no plans to sell anytime soon. Most recently, the firm announced plans to spend another $42 billion over the next three years to add even more BTC to its balance sheet.
The cryptocurrency’s price has been on a roll lately, especially after Donald Trump’s landslide victory in the 24 US presidential elections. It stood below $70,000 back then but shot up by over 18% in the next week or so and broke above $82,000 earlier today to chart a new all-time high.
The post MicroStrategy Buys 27,200 BTC for Over $2 Billion as Bitcoin Paper Profit Crosses $10 Billion appeared first on CryptoPotato.
It’s worth noting that the Michael Saylor-founded company now sits at a paper profit of around $11 billion given BTC’s recent price explosion.
MicroStrategy has acquired 27,200 BTC for ~$2.03 billion at ~$74,463 per #bitcoin and has achieved BTC Yield of 7.3% QTD and 26.4% YTD. As of 11/10/2024, we hodl 279,420 $BTC acquired for ~$11.9 billion at ~$42,692 per bitcoin. $MSTR https://t.co/uCt8nNUVqd
— Michael Saylor(@saylor) November 11, 2024
The former CEO announced the latest acquisition on X, indicating that the firm’s total stash has now surged to 279,420 purchased to an averaged price of $42,692 per bitcoin. This means that MicroStrategy has spent in total approximately $11.9 billion.
Keeping in mind BTC’s current price tag of roughly $82,000, this means that the Wall Street-listed company’s holdings are worth over $22.9 billion. As such, it sits on a paper profit of roughly $11 billion.
MicroStrategy began its BTC accumulation strategy in mid-2020 and has made countless acquisitions since then with no plans to sell anytime soon. Most recently, the firm announced plans to spend another $42 billion over the next three years to add even more BTC to its balance sheet.
The cryptocurrency’s price has been on a roll lately, especially after Donald Trump’s landslide victory in the 24 US presidential elections. It stood below $70,000 back then but shot up by over 18% in the next week or so and broke above $82,000 earlier today to chart a new all-time high.
The post MicroStrategy Buys 27,200 BTC for Over $2 Billion as Bitcoin Paper Profit Crosses $10 Billion appeared first on CryptoPotato.
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