MicroStrategy Chairman Michael Saylor today announced that, between October 31, 2024, and November 10, 2024, it acquired approximately 27,200 Bitcoins for around $2.03 billion in cash.
This figure is based on an average price of roughly $74,463 for each Bitcoin and includes fees and expenses.
The Bitcoins were purchased with proceeds from the issuance and sale of Shares under the Sales Agreements by the company.
As of November 10, 2024, MicroStrategy, along with its subsidiary companies, held nearly 279,420 BTC which were acquired for a price of roughly $11.9 billion at an average price of about $42,692 for each Bitcoin, The purchase valuation also includes fees and expenses.
From October 1, 2024, to November 10, 2024, the Company’s BTC Yield was 7.3%. From January 1, 2024, to November 10, 2024, the Company’s BTC Yield was 26.4%.
Also announced today by MicroStrategy is its BTC Yield, a key measure that indicates the period-to-period percentage change of the ratio between its BTC holdings and Assumed Diluted Shares Outstanding.
The Bitcoin Yield enables MicroStrategy to evaluate whether its BTC acquisition strategy is proceeding in a way that is accretive to the organization’s shareholders.
MicroStrategy believes it can leverage its BTC Yield to enhance investors’ understanding of its decision to finance the purchase of BTC through the issuing of more shares of either the company’s common stock or instruments that can be converted to common stock.
Earlier, BTC Republic reported a plan by MicroStrategy aimed at increasing its BTC holdings.
MicroStrategy And Other Crypto Stocks On The Rise As Bitcoin Price Soars
MicroStrategy’s stock price rose by 11.12% in pre-market trading, moving to $300.50, as BTC price reached a new all-time of $82,302, a significant increase of 19.6% within one week and 30% within one month.
The coin’s 24-hour trading volume has experienced a remarkable increase, now at $78.23 billion, a further indication of increasing investor confidence. With a 24-hour low of $78,479 and a high of $82,311, BTC continues to rally, attracting interest from investors all over the world.
MicroStrategy’s strong BTC strategy keeps boosting investor confidence, with its stock price a reflection of increased demand for exposure to BTC without directly buying the crypto.
Apart from MSTR, other crypto-based stocks also recorded impressive gains. An example is Coinbase (COIN), which opened 16.10% higher at $314.34.
Additionally, Robinhood Markets (HOOD) saw a 7.40% surge, trading at $32.80, as investor enthusiasm heightens, thanks to Bitcoin’s performance.
Other crypto stocks such as Marathon Digital, CleanSpark, and Riot Platforms also appreciated. These gains by crypto stocks correspond with the broader optimism in the crypto market, especially with the continued increase of BTC price.
