Étienne Girard
MicroStrategy, the largest corporate holder of bitcoin, has acquired approximately 27,200 bitcoins for around $2.03 billion in cash, averaging an estimated $74,463 per BTC including fees, according to a recent press release. This acquisition was conducted between October 31, 2024, and November 10, 2024, and was funded through proceeds from the issuance and sale of company shares.
With this latest purchase, MicroStrategy and its subsidiaries now hold a total of about 279,420 bitcoins, obtained at a total cost of approximately $11.9 billion, bringing their average purchase price to $42,692 per BTC. This significant increase in holdings underscores the company’s commitment to expanding its BTC portfolio despite market fluctuations.
MicroStrategy’s latest acquisition follows its third-quarter earnings report, where quarterly revenue hit $116 million, missing analyst expectations of $122.66 million by about 5%. However, the company reported a 17.8% year-to-date BTC yield as of October 30, 2024. Alongside these earnings, MicroStrategy also disclosed plans to raise $42 billion in capital over the coming years to further invest in BTC acquisitions.
JPMorgan Forecasts Bitcoin Price Growth Driven by MicroStrategy’s Strategy
JPMorgan analysts recently noted that MicroStrategy’s ambitious plans, paired with the positive momentum from Donald Trump’s U.S. election win, could provide an additional boost to BTC’s price. MicroStrategy’s strategy aligns with a broader trend of corporate interest in digital assets, potentially setting the stage for continued growth in BTC adoption and market influence.
As the company continues its large-scale investment, this move highlights its enduring confidence in BTC’s potential as a key asset, further strengthening the relationship between corporate interest and cryptocurrency growth.
