MicroStrategy, led by Bitcoin advocate Michael Saylor, has once again raised eyebrows in the financial world with a massive cryptocurrency investment.
The Virginia-based tech firm announced that it recently acquired 27,200 Bitcoin, valued at around $2.03 billion, with an average price of $74,463 per Bitcoin.
This marks the company’s largest purchase to date and solidifies its position as one of the world’s biggest corporate holders of Bitcoin.
This latest investment raises MicroStrategy’s total Bitcoin stash to 279,420 BTC, now valued at nearly $23 billion—a striking figure for a company that initially ventured into Bitcoin as a hedge against inflation.
The purchase was financed through share sales, with the firm raising around $2 billion since August by issuing 7.8 million new shares.
MicroStrategy’s long-term Bitcoin strategy has already seen substantial returns.
Originally purchasing its Bitcoin at an average cost of $42,692, the company’s holdings have nearly doubled in value amid Bitcoin’s recent price surge above $82,000, giving MicroStrategy an unrealized profit of over $11 billion.
MicroStrategy’s recent Bitcoin acquisition coincided with a notable 19.9% rise in its stock on November 8, following confirmation of Donald Trump’s recent election victory.
Since adopting Bitcoin as a primary asset, MicroStrategy’s stock has skyrocketed over 1900%, underscoring the impact of its crypto-centric strategy on shareholder value.
