Business intelligence firm MicroStrategy has boosted its investment in Bitcoin (BTC) following President-elect Donald Trump’s victory in the presidential election. This pivotal moment on November 5 provided a catalyst for the broader cryptocurrency market, further encouraging investment in digital assets.
Bitcoin holdings amount to more than $29 billion
MicroStrategy, led by Bitcoin advocate Michael Saylor, revealed on Monday that it had acquired approximately 51,780 bitcoins for about $4.6 billion. This acquisition represents the company’s largest purchase since it began its Bitcoin buying strategy more than four years ago.
According to A Deposit In cooperation with the US Securities and Exchange Commission, the coins were purchased between November 11 and November 17. With this latest acquisition, MicroStrategy’s total Bitcoin holdings now exceed $29 billion or 331,200 BTC.
Saylor’s journey into Bitcoin began in 2020 as a strategy to hedge against inflation. Initially funded by cash reserves, the company has since focused on using proceeds from equity issuances and convertible debt sales to enhance its purchasing power in the cryptocurrency market.
Michael Saylor has too It has been confirmed His commitment to this strategy. It aims to raise $42 billion over the next three years to boost the company’s BTC portfolio and turn Microstrategy into a leading cryptocurrency bank.
Bitcoin yield rises to 20.4% amid market optimism
recently Data From South Korea-based cryptocurrency analytics firm CryptoQuant, she highlights the impact of MicroStrategy’s recent purchase on its Bitcoin statistics:
- BTC holdings: increased from 279,420 BTC to 331,200 BTC
- MSTR Realized Price: Increased from $42,692 to $49,874
- MSTR Market Value to Realized Value (MVRV): Revised from 2.12 to 1.80
- Percentage of Bitcoin owned by MicroStrategy: increased from 1.412% to 1.674%
This latest deal comes on the heels of another significant acquisition on November 11, with Saylor noting that the company’s treasury operations generated a 7.3% return in Bitcoin, which translates to a net benefit of approximately 18,410 BTC for shareholders.
However, with Monday’s announcement and the notable upward trend in Bitcoin’s price over the past two weeks, Saylor said open These metrics amounted to a BTC return of 20.4% and a net benefit to shareholders of 51,470 BTC.
The relationship between MicroStrategy stock (MSTR) and the price of Bitcoin has also been particularly noteworthy in recent weeks. Following Bitcoin’s record high of $93,300 on November 13, MicroStrategy stock also reached an all-time high of $383.
However, with the market-leading digital asset falling to around US$90,650 – a 9% increase over the past week – MSTR’s share price also fell to around US$359 over the past weekend, underscoring the strong correlation between the cryptocurrency and the company’s stock performance. .
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