As a seasoned crypto investor who has weathered the storm of market volatility for years, this latest move by MicroStrategy under the leadership of Michael Saylor doesn’t surprise me one bit. His relentless commitment to Bitcoin and his strategic vision for the company have always been impressive.
On September 13th, 2024, Michael Saylor, the Co-Founder and Executive Chairman of MicroStrategy (NASDAQ: MSTR), unveiled a substantial expansion to the company’s existing Bitcoin holdings. Taking to social media platform X, Saylor disclosed that MicroStrategy had bought an extra 18,300 Bitcoins at a cost of $1.11 billion, with each Bitcoin being obtained at around $60,408.
This recent purchase strengthens MicroStrategy’s status as a top institutional owner of Bitcoin, now boasting an impressive 244,800 Bitcoins. On average, these Bitcoins were purchased at $38,585 each, totaling an investment of approximately $9.45 billion in the leading cryptocurrency, demonstrating their ongoing belief in Bitcoin’s future worth.
Saylor’s post emphasized that MicroStrategy has garnered a 4.4% return for the current quarter and an impressive 17.0% return for the entire year so far, from its Bitcoin investments. This indicates that despite Bitcoin’s unpredictability, the company has consistently earned substantial profits on its Bitcoin assets over time. The yield probably refers to MicroStrategy’s approach of generating extra income by various methods like lending or staking their Bitcoin holdings, although the specific techniques weren’t discussed in the post.
MicroStrategy recently purchased 18,300 Bitcoins for approximately $1.11 billion, which equates to around $60,408 per Bitcoin. This acquisition has resulted in a Quarter-to-Date (QTD) yield of 4.4% and Year-to-Date (YTD) yield of 17.0%. As of 9/12/2024, we hold 244,800 Bitcoins that were acquired for approximately $9.45 billion, which equates to an average price of around $38,585 per Bitcoin. The ticker symbol for MicroStrategy is MSTR.
— Michael Saylor⚡️ (@saylor) September 13, 2024
MicroStrategy’s persistent acquisition of Bitcoin underscores Michael Saylor’s firm conviction in cryptocurrency as a valuable asset and a protective measure against inflation. Ever since the company’s first buy in 2020, Saylor has been vocal about Bitcoin, emphasizing its role within MicroStrategy’s financial structure and long-term investment plan.
As I’m typing this (at 3:23 PM UTC on September 13), MicroStrategy stocks are being bought and sold approximately at $136.72, marking a 4.55% increase in value compared to today.
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2024-09-13 18:43