Key Takeaways
- MicroStrategy acquires 27,200 BTC for $2 billion.
- Company's Bitcoin profits reach $11 billion.
- MSTR stock rises over 9% following Bitcoin purchase.
Michael Saylor’s MicroStrategy has expanded its Bitcoin holdings once again, purchasing an additional 27,200 BTC at a cost of $2 billion.
The Virginia-based company now holds 279,420 BTC, valued at nearly $23 billion with Bitcoin’s recent peak above $82,000.
Profits
Acquiring its Bitcoin holdings for a cumulative $11.9 billion, MicroStrategy’s total Bitcoin profits now stand at around $11 billion.
The latest acquisition, bought at an average of $74,463 per BTC, has already generated $200 million in gains as Bitcoin’s price rose nearly $8,000 above the purchase rate.
Year-to-date, MicroStrategy’s Bitcoin yield is over 26%, with a quarterly yield of 7.4%.
Strategy
MicroStrategy continues to fund its Bitcoin acquisitions by issuing shares, allowing the company to reinvest in Bitcoin with the proceeds.
This approach has contributed to both a rise in Bitcoin’s price and an increase in MicroStrategy’s own stock, which is up more than 9% in pre-market trading, reaching $295 per share.
