MicroStrategy’s Bitcoin Strategy Yields 41.8% Return in 2024
MicroStrategy (MSTR), the largest corporate Bitcoin (BTC) holder known for its massive Bitcoin acquisitions, is making waves in the cryptocurrency space. November 19, 2024 Michael ThalerThe chairman and founder of MSTR posted on X (formerly Twitter) that the company has returned over 41.8% this year through smart acquisitions of BTC.
MicroStrategy’s strategic acquisition
According to the post on Unlike traditional Bitcoin mining, which requires significant cost, energy consumption and capital investment, MicroStrategy achieves this performance through its innovative funding operations.
Saylor’s post on shareholder value.
Additionally, this announcement highlights MicroStrategy’s position as a pioneer in enterprise adoption of Bitcoin. With its large Bitcoin holdings, the company continues to set the benchmark for incorporating cryptocurrencies into corporate financial management.
Recent BTC acquisitions and expansion plans
However, on November 18, 2024, the company purchased 51,780 units at an average price of $88,627, valued at $4.6 billion. With yesterday’s BTC acquisition, MSTR Total BTC holdings increased to 331,200.
Additionally, the company announced during the Asian trading session plans to raise $1.75 billion through the use of convertible senior notes to expand its Bitcoin holdings.
Apart from this, Bitcoin is currently trading near $91,500, up more than 1.80%. However, before the US market opened, BTC hit an all-time high of over $92,720. At the same time, its trading volume surged 35%, indicating increased participation from traders and investors.
