Microstrategy buys another $4.6 billion worth of Bitcoin

MicroStrategy added 51,780 Bitcoin (BTC) to its holdings. The company acquired BTC for $4.6 billion, bringing its total holdings to 331,200 BTC. Metaplanet, an Asian microstrategy, announced plans to buy more bitcoin on November 18.

Microstrategy, the owner of the world's largest BTC corporation, has added to its impressive BTC portfolio with another major acquisition.

The company announced on November 18 that it had acquired an additional 51,780 BTC worth $4.6 billion, with its latest purchase at an average price of $88,627 per bitcoin. It pushes MicroStrategy's total BTC holdings to 331,200 BTC.

Microstrategy BTC holdings reached 331,200

MicroStrategy's announcement comes just days after the company's founder, Michael Saylor, announced that he had bought more than $2 billion worth of BTC.

Overall, publicly listed, the stock MSTR surged amid Bitcoin's mega price rise, gaining $16.5 billion in BTC. The average price of the purchases was $49,874, nearing an all-time high for the benchmark cryptocurrency transaction, earning the company billions of dollars in profits.

“MicroStrategy got 51,780 BTC for ~4.6 billion at ~$88,627 in #bitcoin and achieved BTC yield of 20.4% QTD and 41.8% YTD. As of 11/17/2024, 331,200$BTC at ~$16.5 billion at ~$49,874 We got one bitcoin,” Michael Saylor posted on X.

As CoinJournal reports, the US-based organization has inspired many other platforms and entities to adopt the Bitcoin strategy.

One of these is Japan's Metaplanet, which is listed on the Tokyo Stock Exchange. On November 18, Metaplanet announced the issuance of over $11 million in bonds to buy bitcoin. Metaplanet is known as “Asia's Micro Strategy”.

Elsewhere, the market continues to see increasing interest in the crypto asset class. Bitcoin recently hit a new all-time high of over $93k. The price of BTC has remained steady at the $90k level amid speculation that the digital asset's value could reach $100k before the end of the year.