LATEST: Michael Saylor’s MicroStrategy Acquires Bitcoin, 27,200 Units at $74,463 Each

MicroStrategy has secured an impressive 27,200 BTC, valued at $2.03 billion, between October 31 and November 10. This acquisition highlights a significant commitment to Bitcoin as the cryptocurrency reached a new all-time high of over $82,000. Currently, the company holds 279,420 BTC, representing about 1.3% of the circulating supply and an unrealized gain of over $10 billion.

CEO Michael Saylor emphasized the strategic importance of these purchases, funded through recent stock sales agreements totaling around $23 billion. The company’s Bitcoin yield from early October to date stands at 7.3%, showcasing a robust return on investment. With an overall year-to-date yield of 26.4%, MicroStrategy continues to enhance shareholder value through its focused Bitcoin investment strategy.

Following this announcement, MicroStrategy’s stock experienced a 10% surge in pre-market trading. Despite a slight dip in Bitcoin prices post-announcement, the company’s proactive market moves underscore its leading position in corporate cryptocurrency investment, reinforcing confidence among investors and stakeholders.

27K Reads