As a seasoned analyst with years of market observation under my belt, I find MicroStrategy’s strategic Bitcoin acquisition strategy intriguing and bold, to say the least. This move by CEO Michael Saylor is reminiscent of a gambler’s long-term bet on a winning horse, but in this case, it’s a high-stakes wager on the future of digital currency.
In simple terms, the cloud-based software firm, MicroStrategy, made a substantial purchase of Bitcoin. They acquired around 18,300 Bitcoins from the 6th of August to the 12th of September in the year 2024.
As an analyst reporting, I’ve just reviewed the company’s Form 8-K submission to the U.S. Securities and Exchange Commission (SEC). In this filing, it’s disclosed that our recent acquisition of bitcoins amounted to approximately $1.11 billion. This figure includes transaction costs and fees, with an average price per bitcoin calculated at around $60,408.
Under the leadership of CEO Michael Saylor, MicroStrategy has consistently grown its Bitcoin investments since 2016, making its initial acquisition in August 2020. More recently, in July, MicroStrategy augmented its Bitcoin portfolio with 169 Bitcoins valued at approximately $11.4 million.
By September 12, 2024, the company owns approximately 244,800 Bitcoins, which were purchased for roughly $9.45 billion, with an average cost of around $38,585 per Bitcoin. Moreover, MicroStrategy has reported a yield of 4.4% for this quarter and a year-to-date yield of 17.0%.
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2024-09-13 18:12