MicroStrategy acquires another 27,200 Bitcoin, holdings now worth $23 billion

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 reported at 7.3%.

MicroStrategy, the largest corporate Bitcoin holder, announced Monday it had acquired 27,200 Bitcoin between October 31 and November 10, 2024, paying an average price of $74,463 per coin. The latest purchase brings its total Bitcoin stash to 279,420 BTC, valued at approximately $23 billion at current prices.

The acquisition was funded through the company’s share sales program. MicroStrategy said it raised approximately $2.03 billion through the sale of 7,854,647 shares under its at-the-market (ATM) offering program. These sales were conducted through agreements with multiple financial institutions including TD Securities, Barclays Capital, and BTIG. The company will continue to sell shares under its October Sales Agreement.

MicroStrategy reported its BTC Yield, a key performance indicator to assess the effectiveness of its Bitcoin acquisition strategy and capital allocation decisions, was 7.3% from October 1 to November 10. The year-to-date BTC Yield through November 10 was 26.4%.

The company’s goal for BTC yield, as outlined in their Q3 report, is to achieve an annual BTC yield of 6% to 10% over the next three years. MicroStrategy also plans to acquire $42 billion in Bitcoin over this timeframe.

As of November 11, MicroStrategy has achieved approximately $10.7 billion in unrealized profits from 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 data from CoinGecko.