Bitcoin bull firm MicroStrategy announced that they purchased $1.1 billion worth of Bitcoin at a price of $60,408/BTC.
MicroStrategy is a business intelligence Nasdaq-listed firm that is popular in the crypto sector because of its Bitcoin balance. Under the leadership of MicroStrategy’s former CEO Michael Saylor, this company has been buying Bitcoin to hold BTC balance in the company’s reserve fund indefinitely.
On 13 Sep 2024, MicroStrategy’s Michael Saylor announced that the company has purchased an additional 18,300 BTC at an approximate cost of $1.11 billion, with each Bitcoin valued at around $60,408. As of September 12, 2024, the company now holds a total of 244,800 BTC, which were acquired for a cumulative investment of approximately $9.45 billion, at an average price of $38,585 per Bitcoin.
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 https://t.co/WBBRSKxA1U
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— Michael Saylor⚡️ (@saylor) September 13, 2024
The company’s Bitcoin holdings have yielded 4.4% for the quarter-to-date (QTD) and 17.0% for the year-to-date (YTD). The current valuation of all these Bitcoins at the current trade price is $14.82 billion. This means that the company now stands at an unrealized profit of nearly $5 billion.
It is worth noting that Saylor stepped down from the CEO role a few years ago, solely to dedicate his full time to the company’s Bitcoin-related plans. Just a couple of days ago, Saylor predicted that the price of Bitcoin will reach $13 million per coin in the next one or two decades.
Bitcoin price action
This news acts as a significant catalyst, pushing the trade price of Bitcoin higher. The current trade price of Bitcoin is $60,400, which is 4% higher than it was over the last 24 hours.
Bitcoin Skyrockets Past $60K After MicroStrategy’s Massive $1.1 Billion Bitcoin Buy!
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