cryptojournalist
MicroStrategy has just increased its Bitcoin holdings to $23 billion by buying another 27,200 Bitcoins, bringing its total to 279,420 BTC.
Details on the Recent Bitcoin Buy
On November 11, MicroStrategy shared that it spent $2.03 billion on Bitcoin between October 31 and November 10, paying around $74,463 for each Bitcoin. Even as Bitcoin prices rise, the company keeps buying more.
How They Funded the Purchase
To pay for this latest Bitcoin buy, MicroStrategy sold 7.8 million shares for $2 billion. They had deals in place back in August and October for this stock sale.
Bitcoin Yield Update
MicroStrategy reported a Bitcoin yield of 7.3% from October 1 to November 10, with a total yield of 26.4% for the year so far. This indicates that their Bitcoin investment strategy is paying off well.
Stock Price Boost After Trump’s Win
After Donald Trump’s win in the presidential election, MicroStrategy’s stock jumped nearly 20%, adding to the company’s overall growth.
Big Returns on Bitcoin Investment
Thanks to its Bitcoin purchases, MicroStrategy has made over 100% return on its investment. The company’s Bitcoin holdings were already valued at $20.5 billion before this latest buy, according to the “Saylor Tracker.” MicroStrategy is still the top corporate holder of Bitcoin, well ahead of Marathon Digital and Riot Platforms.
