MicroStrategy (NASDAQ:MSTR) has acquired an additional 18,300 Bitcoin. The company now reports holding 244,800 BTC.
MicroStrategy is reportedly the largest corporate holder of Bitcoin in the world. MicroStrategy CDEO Michael Saylor is on record predicting that in coming years, Bitcoin will soar to millions of dollars in value—a big leap up from its current trading value of $58,000. Recently, Saylor said he expects Bitcoin to hit $13 million in the next 21 years.
The information on the BTC purchase is revealed in an 8-K filed with the Securities and Exchange Commission posted today. According to the update, between August 6, 2024, and September 12, 2024, MicroStrategy acquired approximately 18,300 Bitcoins for roughly $1.11 billion in cash at an average price of approximately $60,408 per Bitcoin, including fees. The purchases were made using proceeds from the issuance and sale of company shares.
As of September 12, 2024, MicroStrategy held an aggregate of approximately 244,800 Bitcoins, which were acquired at an aggregate purchase price of approximately $9.45 billion and an average purchase price of roughly $38,585 per Bitcoin.
The document also reveals that from July 1, 2024, to September 12, 2024, MicroStrategy’s BTC Yield was 4.4%. From January 1, 2024, to September 12, 2024, the yield was quite a bit higher at 17.0%.
MicroStrategy is effectively a Bitcoin proxy as so much of the company’s value is derived from its Bitcoin holdings.
