Golden Financier
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.
    Popular Topics
    • USD/TRY analysis as Goldman Sachs warns on lira carry trade
    • DXY: Will the US dollar index crash as Morgan Stanley predicts?
    • IAG share price forecast as transatlantic demand starts to recover
    • EUR/USD forecast: carry trade emerges ahead of ECB rate cut
    • China’s manufacturing PMI edges up despite ongoing trade tensions
    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions
    Golden Financier
    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy
    • Stock

    Michael Saylor’s MicroStrategy invests $1.1 billion to add 18,300 Bitcoins to its holdings

    • September 14, 2024
    • admin

    MicroStrategy, once known for its business software, continues its transformation into a “Bitcoin development company” by significantly expanding its Bitcoin holdings.

    The company, led by Executive Chairman Michael Saylor, has acquired an additional 18,300 BTC, valued at approximately $1.1 billion, at an average price of $60,408 per Bitcoin.

    This latest purchase reinforces MicroStrategy’s position as the largest corporate holder of Bitcoin, with a total of 244,800 BTC, now worth nearly $14 billion.

    MicroStrategy’s new BTC purchase

    In its latest move, MicroStrategy added 18,300 BTC to its portfolio, marking a bold step in its ongoing commitment to Bitcoin.

    The purchase, announced by Michael Saylor via X (formerly Twitter), brings the company’s total Bitcoin holdings to 244,800 BTC.

    With this acquisition, the firm solidifies its leadership among publicly traded companies in Bitcoin ownership.

    Michael Saylor⚡️
    @saylor
    ·Follow

    MicroStrategy has acquired 18,300 BTC for ~$1.11 billion at ~$60,408 per #bitcoin and has achieved BTC Yield of 4.4% QTD and 17.0% YTD. As of 9/12/2024, we hodl 244,800 $BTC acquired for ~$9.45 billion at ~$38,585 per bitcoin. $MSTR microstrategy.com/press/microstr…

    5:37 PM · Sep 13, 2024
    8.4K
    Reply
    Read 706 replies

    MicroStrategy’s BTC holdings are worth $14 billion

    MicroStrategy’s total Bitcoin holdings, acquired at a combined cost basis of $9.45 billion and an average price of $38,585 per BTC, have surged in value as Bitcoin’s market price hovers around $58,000.

    This puts the company’s current Bitcoin portfolio at roughly $14 billion.

    The firm has demonstrated unwavering confidence in Bitcoin’s long-term potential since it first started acquiring the cryptocurrency in 2020.

    The company has introduced a unique metric called “Bitcoin yield,” reporting a 4.4% increase in the current quarter and 17% year-to-date.

    This metric reflects the growth in the ratio of its Bitcoin holdings to its assumed diluted shares.

    MicroStrategy’s strategy not only focuses on accumulating Bitcoin but also on optimizing returns from its investments.

    MicroStrategy’s transformation from a business software firm to a Bitcoin-focused entity represents a broader shift among institutional investors.

    The company’s aggressive Bitcoin strategy has set a new precedent, encouraging other firms to view Bitcoin as a store of value and an investment vehicle.

    Data from Bitcoin Treasury highlights that MicroStrategy is the largest Bitcoin holder among all publicly listed companies, solidifying its influence on the cryptocurrency market.

    As institutional interest in digital assets continues to grow, MicroStrategy’s bold approach underscores the increasing adoption of Bitcoin as a legitimate asset class among corporations.

    The post Michael Saylor’s MicroStrategy invests $1.1 billion to add 18,300 Bitcoins to its holdings appeared first on Invezz


    admin

    Previous Article
    • Stock

    Wells Fargo faces OCC enforcement, but Jim Cramer sees opportunity in stock

    • September 14, 2024
    • admin
    View Post
    Next Article
    • Economy

    Venezuela’s tourism paradox: Rich in resources, but struggling to attract tourists

    • September 14, 2024
    • admin
    View Post

      Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


      By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.
      Popular Topics
      • USD/TRY analysis as Goldman Sachs warns on lira carry trade
      • DXY: Will the US dollar index crash as Morgan Stanley predicts?
      • IAG share price forecast as transatlantic demand starts to recover
      • EUR/USD forecast: carry trade emerges ahead of ECB rate cut
      • China’s manufacturing PMI edges up despite ongoing trade tensions

      Input your search keywords and press Enter.