As a seasoned analyst with over two decades in the financial industry, I’ve seen my fair share of market trends and corporate moves. MicroStrategy’s consistent foray into Bitcoin is nothing short of remarkable, especially given its rapid rise from a software giant to a Bitcoin bull.
MicroStrategy Inc., a renowned American business intelligence and software company, has recently acquired another 18,300 Bitcoins (BTC). In a statement disclosed on X, the CEO of the firm, Michael Saylor, stated that they spent around $1.11 billion to purchase these Bitcoins at an average price of approximately $60,408 per Bitcoin.
MicroStrategy and consistency
Nowadays, the tech colossus is better known for its aggressive support of Bitcoin than for its original business operations. As Michael Saylor pointed out, the company has amassed a total of 244,800 Bitcoins, purchasing them for around $9.45 billion at an average price of about $38,585 per Bitcoin.
MicroStrategy has purchased approximately 18,300 Bitcoins for about $1.11 billion, with each Bitcoin costing around $60,408. This transaction has given them a Quarter-to-Date (QTD) Bitcoin Yield of 4.4% and a Year-to-Date (YTD) yield of 17.0%. As of 9/12/2024, they own 244,800 Bitcoins that they bought for approximately $9.45 billion, with each Bitcoin costing around $38,585 at the time of purchase. ($MSTR)
— Michael Saylor⚡️ (@saylor) September 13, 2024
The business currently ranks among the top corporate Bitcoin owners due to a strategy it developed over four years. Beginning in August 2020 during the COVID-19 pandemic, when economic turmoil reduced the U.S. dollar‘s worth, the company began purchasing Bitcoin. Despite skepticism and market volatility affecting its portfolio value, the firm has continued to expand its holdings, remaining confident in its investment decisions.
After that point, the company seized each available chance to acquire the cryptocurrency. In certain instances, MicroStrategy even resorted to issuing Convertible Senior Notes, a form of debt offering, in order to purchase additional Bitcoin.
All in all, the company’s investments in Bitcoin seem to be successful. In their recent report, Michael Saylor mentioned that the company has earned a quarter-to-date yield of 4.4% from Bitcoin and a year-to-date yield of 17.0%. At present, the company’s stock price is among the top performers on Wall Street.
Influencing new Bitcoin HODLers
In recent times, MicroStrategy’s significant influence in the cryptocurrency sector has sparked interest among new investors, with Saylor being a consistent proponent of Bitcoin. A notable example today is Metaplanet, a Japanese investment company known for its steadfast support of digital assets.
Metaplanet’s Bitcoin holdings are less extensive compared to others, yet it has persistently added to them, much like MicroStrategy. This Japanese company has additionally liquidated some of its securities to boost its digital currency holdings further.
Given that Bitcoin is currently approximately 20% lower than its record peak, these investors are optimistic that substantial profits lie ahead.
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2024-09-13 16:02