MicroStrategy, led by Executive Chairman Michael Saylor, has made headlines once again by purchasing an additional 18,300 bitcoins for a staggering $1.1 billion. This latest acquisition brings the company's total bitcoin holdings to 244,800 BTC, which holds a market value of around $14 billion at current prices. MicroStrategy has transformed itself from a traditional business software firm into a dedicated bitcoin development company, signaling its commitment to the cryptocurrency sector.

The newly acquired bitcoins were purchased at an average price of $60,408 each. This brings MicroStrategy's overall cost basis for its bitcoin holdings to approximately $9.45 billion, translating to an average cost of $38,585 per bitcoin. At the current trading levels just below $58,000, this notable stack of bitcoins highlights the significant capital gains that the company has realized since it first began its purchasing in 2020.

Saylor shared additional insights regarding the performance of their holdings, stating that the company has achieved a notable BTC yield of 4.4% for the current quarter and an impressive 17% yield year-to-date. This 'BTC yield' is a unique metric created by MicroStrategy that reflects the percentage change over time between the company's total bitcoin assets and its diluted shares outstanding.

MicroStrategy’s commitment to bitcoin is evidenced by its status as the largest holder of the cryptocurrency among publicly-listed companies worldwide. After the recent purchases, MSTR shares have remained flat in premarket trading but have surged by an incredible 91% year-to-date. The company continues to play a pivotal role in shaping the landscape of institutional investment in bitcoin, solidifying its influence in the cryptocurrency market.

Source: https://www.coindesk.com/markets/2024/09/13/michael-saylors-microstrategy-purchased-183k-more-bitcoins-for-11b/

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