A week after making its largest Bitcoin purchase in its history, MicroStrategy is at it again. While the price of Bitcoin has never been so high, Michael Saylor's company has just acquired 55,000 new BTC for a total of $5.4 billion.
MicroStrategy buys 55,000 new Bitcoins
Just 7 days ago, MicroStrategy announced that it had acquired $4.6 billion in Bitcointhe largest investment since its creation. While the price of Bitcoin is approaching $100,000 and many analysts see a glass ceiling leading to an inevitable correction, Michael Saylor's company has nevertheless put its hand back in the portfolio.
MicroStrategy has acquired 55,500 BTC for ~$5.4 billion at ~$97,862 per #bitcoin and has achieved BTC Yield of 35.2% QTD and 59.3% YTD. As of 11/24/2024, we hodl 386,700 $BTC acquired for ~$21.9 billion at ~$56,761 per bitcoin. $MSTR https://t.co/79ExzXk4UM
— Michael Saylor⚡️ (@saylor) November 25, 2024
According to the document filed by MicroStrategy, she acquired 55,000 new BTC at an average price of $97,862, or $5.4 billion. That is, the American software company surpassed its previously established record by $800 million.
🔬 Is Bitcoin capable of crossing $100,000? BTC analysis of November 25, 2024
MicroStrategy has significant liquidity, particularly following its recent contribution of $2.97 billion from a new bond issue at 0% interest. An initiative which proves the blind confidence that MicroStrategy has in Bitcoin, but also that of the investors who responded to its call.
Note that if the MSTR stock price rises 30% above the conversion price (or approximately $873) by December 2026, MicroStrategy can repurchase the bonds at the original price plus special interest.
At the same time, Michael Saylor's company managed to raise approximately $2.46 billion between November 18 and 24 by selling 5.6 million shares.
📈 Learn how to buy MicroStrategy (MSTR) stock in just a few clicks
MSTR stock is currently trading at $405, up 73% over the past 30 days and almost 500% year to date. Citron Research, a financial analysis firm, recently announced a short position in MicroStrategy, estimating that the company's valuation was now ” decorrelated from Bitcoin fundamentals “.
MicroStrategy currently holds 386,700 BTC, the equivalent of almost $37 billion.
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Source: Official document
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