MicroStrategy is back on the bitcoin purchasing market by allocating another $2 billion to accumulate more than 27,000 BTC.<\/p>\n
It\u2019s worth noting that the Michael Saylor-founded company now sits at a paper profit of around $11 billion given BTC\u2019s recent price explosion.<\/p>\n
MicroStrategy has acquired 27,200 BTC for ~$2.03 billion at ~$74,463 per #bitcoin<\/a> and has achieved BTC Yield of 7.3% QTD and 26.4% YTD. As of 11\/10\/2024, we hodl 279,420 $BTC<\/a> acquired for ~$11.9 billion at ~$42,692 per bitcoin. $MSTR<\/a> https:\/\/t.co\/uCt8nNUVqd<\/a><\/p>\n \u2014 Michael Saylor (@saylor) November 11, 2024<\/a><\/p>\n\n The former CEO announced the latest acquisition on X, indicating that the firm\u2019s total stash has now surged to 279,420 purchased to an averaged price of $42,692 per bitcoin. This means that MicroStrategy has spent in total approximately $11.9 billion.<\/p>\n Keeping in mind BTC\u2019s current price tag of roughly $82,000, this means that the Wall Street-listed company\u2019s holdings are worth over $22.9 billion. As such, it sits on a paper profit of roughly $11 billion.<\/p>\n MicroStrategy began its BTC accumulation strategy in mid-2020 and has made countless acquisitions since then with no plans to sell anytime soon. Most recently, the firm announced<\/a> plans to spend another $42 billion over the next three years to add even more BTC to its balance sheet.<\/p>\n The cryptocurrency\u2019s price has been on a roll lately, especially after Donald Trump\u2019s landslide victory in the 24 US presidential elections. It stood below $70,000 back then but shot up by over 18% in the next week or so and broke above $82,000 earlier today to chart a new all-time high<\/a>.<\/p>\n The post MicroStrategy Buys 27,200 BTC for Over $2 Billion as Bitcoin Paper Profit Crosses $10 Billion<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" MicroStrategy is back on the bitcoin purchasing market by allocating another $2 billion to accumulate more than 27,000 BTC. It\u2019s worth noting that the Michael Saylor-founded company now sits at a paper profit of around $11 billion given BTC\u2019s recent price explosion. MicroStrategy has acquired 27,200 BTC for ~$2.03 billion at ~$74,463 per #bitcoin and […]<\/p>\n","protected":false},"author":0,"featured_media":19520,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-19519","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19519"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19519"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/19519\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/19520"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}