MicroStrategy acquires another 27,200 bitcoin for more than $2 billion

MicroStrategy, the largest corporate holder of bitcoin, acquired approximately 27,200 bitcoin for roughly $2.03 billion in cash at an average estimated price of $74,463 per coin, including fees and expenses.

The bitcoin purchases were conducted between Oct. 31, 2024, and Nov. 10, 2024, with proceeds from the issuance and sale of shares, according to a press release.

MicroStrategy and its subsidiaries held an approximate aggregate of 279,420 bitcoin acquired for an approximate aggregate purchase price of $11.9 billion — equating to an average purchase price of $42,692 per coin, including fees and expenses.

MicroStrategy's latest purchase comes after the company reported quarterly sales of $116 million — missing a consensus estimate of $122.66 million by roughly 5% — and reported a year-to-date BTC Yield of 17.8% on Oct. 30, 2024. It also announced plans to raise $42 billion in capital for bitcoin acquisitions over the next few years.

Late last week, JPMorgan predicted that — in addition to benefiting from Donald Trump's victory in the United States presidential election — bitcoin is slated to get an additional boost from MicroStrategy's plan.