MicroStrategy buys another $4.6 billion of Bitcoin

• MicroStrategy has added 51,780 Bitcoin (BTC) to its holdings.
• The company acquired the BTC for $4.6 billion, bringing total holdings to 331,200 BTC.
• Metaplanet, the MicroStrategy of Asia, also announced plans to buy more Bitcoin on Nov. 18.

MicroStrategy, the world’s largest corporate holder of Bitcoin (BTC), has added to its impressive BTC haul with another major buy.

The company announced on Nov. 18 that it had acquired an additional 51,780 BTC worth $4.6 billion, with the latest purchase coming at an average price of $88,627 per bitcoin. It pushes MicroStrategy’s total BTC holdings to 331,200 BTC.

MicroStrategy BTC holdings hit 331, 200

MicroStrategy’s announcement comes a few days after the company founder Michael Saylor revealed the purchase of over $2 billion worth of BTC.

Overall, the publicly-listed company, whose stock MSTR has surged amid Bitcoin’s mega price spike, has acquired $16.5 billion worth of BTC. The average price of the buys is $49,874, putting the company billions of dollars in profit as the benchmark cryptocurrency trades near its all-time high.

“MicroStrategy has acquired 51,780 BTC for ~$4.6 billion at ~$88,627 per #bitcoin and has achieved BTC Yield of 20.4% QTD and 41.8% YTD. As of 11/17/2024, we hodl 331,200 $BTC acquired for ~$16.5 billion at ~$49,874 per bitcoin,” Michael Saylor posted on X.

As CoinJournal reported, the US-based firm has inspired several other platforms and entities to adopt a Bitcoin strategy.

One of these is Metaplanet, the Japan-based company listed on the Tokyo Stock Exchange. On Nov. 18, Metaplanet disclosed the issuance of over $11 million in bonds to buy Bitcoin. Metaplanet has become known as the “MicroStrategy of Asia.”

Elsewhere, the market continues to see a surge in interest in the crypto asset class. Bitcoin recently broke to a new all-time high above $93k. The BTC price has remained steady near the $90k level amid predictions that the digital asset’s value could run to $100k before the end of the year.