MicroStrategy Acquires 51,780 BTC, Total Holdings Reach 331,200 BTC
MicroStrategy has acquired 51,780 Bitcoin (BTC) between November 11 and November 17, 2024. This purchase reflects the company's ongoing commitment to its Bitcoin strategy led by Executive Chairman Michael Saylor.
The funds for these acquisitions were sourced from the company’s At-the-Market (ATM) program, which involves issuing and selling shares to raise capital. MicroStrategy has utilized approximately $5.7 billion of its $21 billion ATM program, leaving $15.3 billion available. At this pace, the company could potentially exhaust the program by year-end if current purchasing trends continue.
This latest acquisition brings MicroStrategy’s total Bitcoin holdings to 331,200 BTC, representing about 1.58% of the total Bitcoin supply. This accumulation emphasizes their long-term belief in Bitcoin as a strategic reserve asset.
From October 1 to November 17, the company reported a Bitcoin yield of 20.4%, indicating the growing value of their holdings during this period. Year-to-date, the Bitcoin yield is at 41.8%, reinforcing their position as a prominent institutional Bitcoin holder.
MicroStrategy’s strategy of leveraging equity sales to fund Bitcoin purchases is unique among publicly traded companies, enhancing its reputation as a pioneer in this field. Under Michael Saylor’s leadership, the company has consistently shown confidence in Bitcoin’s potential as a store of value and a hedge against traditional market volatility.
As they continue to deploy capital through the ATM program, the evolution of their approach may impact the broader crypto market. MicroStrategy’s actions often indicate strong institutional interest in Bitcoin, influencing market sentiment and investor confidence.
This recent announcement exemplifies their steadfast commitment to their digital asset strategy.