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MicroStrategy leverages stock sales for Bitcoin accumulation, showcasing bold financial strategies in volatile markets.
Key Takeaways
MicroStrategy acquired 27,200 BTC for $2.03 billion, with a total holding of 279,420 BTC. The company's BTC Yield from October 1 to November 10, 2024, was reported at 7.3%. <?xml encoding="UTF-8"?>MicroStrategy, the largest corporate Bitcoin holder, announced Monday it had acquired 27,200 Bitcoin between October 31 and November 10, 2024, paying an average price of $74,463 per coin. The latest purchase brings its total Bitcoin stash to 279,420 BTC, valued at approximately $30 billion at current prices.
The acquisition was funded through the company’s share sales program. MicroStrategy said it raised approximately $2.03 billion through the sale of 7,854,647 shares under its at-the-market (ATM) offering program. These sales were conducted through agreements with multiple financial institutions including TD Securities, Barclays Capital, and BTIG.
MicroStrategy reported its BTC Yield, a key performance indicator to assess the effectiveness of its Bitcoin acquisition strategy and capital allocation decisions, was 7.3% from October 1 to November 10. The year-to-date BTC Yield through November 10 was 26.4%.
The company’s goal for BTC yield, as outlined in their Q3 report, is to achieve an annual BTC yield of 6% to 10% over the next three years. MicroStrategy also plans to acquire $42 billion in Bitcoin over this timeframe.
As of November 11, MicroStrategy has achieved around $10.6 billion in unrealized profits from its Bitcoin holdings. The increase in value is attributed to the recent surge in Bitcoin prices, which reached an all-time high of around $82,000, according to data from CoinGecko.
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