Key takeaways
- MicroStrategy acquired 27,200 BTC for $2.03 billion, with a total holding of 279,420 BTC.
- The company’s BTC yield from October 1 to November 10, 2024 was 7.3%.
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MicroStrategy, the largest Bitcoin holding company, announced on Monday that it acquired 27,200 Bitcoins between October 31 and November 10, 2024, paying an average price of $74,463 per coin. The latest purchase brings the total Bitcoin reserve to 279,420 BTC, valued at approximately $23 billion at current prices.
MicroStrategy acquired 27,200 BTC for ~$2.03 billion at ~$74,463 per #bitcoin and achieved a BTC return of 7.3% in the quarter and 26.4% year-to-date. As of 11/10/2024, we are hosting 279,420 $BTC acquired for ~$11.9 billion at ~$42,692 per bitcoin. $MSTR
– Michael Saylor⚡️ (@saylor) November 11, 2024
The acquisition was financed through the company’s share sale program. MicroStrategy said it raised approximately $2.03 billion through the sale of 7,854,647 shares under its at-the-market offering (ATM) program. These sales were made through agreements with several financial institutions, including TD Securities, Barclays Capital and BTIG. The company will continue to sell shares under its October sale agreement.
MicroStrategy announced that its BTC yield, a key performance indicator for evaluating the effectiveness of its Bitcoin acquisition strategy and capital allocation decisions, was 7.3% from October 1 to November 10. The BTC return year-to-date through November 10 was 26.4%.
The company’s BTC yield goal, as stated in its third quarter report, is to achieve an annual BTC yield of 6% to 10% over the next three years. MicroStrategy also plans to acquire $42 billion worth of Bitcoin during this period.
As of November 11, MicroStrategy had made approximately $10.7 billion in unrealized profits on its Bitcoin holdings. The increase in value is attributed to the recent surge in Bitcoin prices, which reached an all-time high of around $82,000, according to CoinGecko data.
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