- From October 31 to November 10, 2024, purchased at an average of $74,463 per bitcoin, spending $2 billion.
- As of November 10, 2024, owns approximately 279,420 bitcoins, bought at an average price of $42,692, including fees.
MicroStrategy, under the leadership of Michael Saylor, has significantly increased its bitcoin holdings, establishing itself as the public company with the largest bitcoin balance. The firm announced the acquisition of 27,200 bitcoins, which brought its total to about 278,000 bitcoins.
As of November 10, 2024, the Company, together with its subsidiaries, held an aggregate of approximately 279,420 bitcoins, which were acquired at an aggregate purchase price of approximately $11.9 billion and an average purchase price of approximately $42,692 per bitcoin, inclusive of fees and expenses. – MicroStrategy
From October 31, 2024, to November 10, 2024, MicroStrategy purchased these bitcoins for approximately $2 billion, with an average price of $74,463 per bitcoin, fees and expenses included. This action is part of a continued strategy to accumulate bitcoin, a policy MicroStrategy has maintained for several years.
As of November 10, 2024, the company and its subsidiaries held around 279,420 bitcoins, bought at an aggregate cost of about $11.9 billion and an average cost of $42,692 per bitcoin, including all associated fees and expenses. With these holdings, MicroStrategy controls one in every 75 bitcoins, given the total limit of 21 million BTC.
The return on MicroStrategy’s bitcoin investment has reached 26.4% from the start of the year until November 10, 2024, showing a strong increase in the value of its digital assets. This performance exceeds that of other firms with bitcoin investments, such as Marathon Digital Holdings with 26,800 BTC, and Tesla, which owns 9,720 BTC, based on BitcoinTreasuries data.
MicroStrategy’s strategy extends beyond merely accumulating Bitcoin as a reserve of value; it also involves using bitcoin to enhance its corporate policy.Â
This method has been adopted by other companies globally, like Metaplanet in Japan, inspired by MicroStrategy’s approach, as reported by ETHNews. This adoption signals a steady increase in bitcoin’s legitimacy as an asset class among corporate entities worldwide.
The current price of Bitcoin (BTC) is $88,013 USD, showing a decline of 0.85% today. Here is a quick analysis:
Key Observations:
- Price Trend: Bitcoin is slightly down today but still displays strong upward momentum, with a weekly gain of 29.59% and a monthly increase of 39.07%. The overall bullish trend has pushed Bitcoin’s year-to-date performance up by 107.97%.
- Market Sentiment: Despite the minor correction today, the market sentiment remains positive, driven by high trading volume (24-hour volume at $129.14 billion USD) and increasing interest in the crypto market, partly fueled by macroeconomic factors.
- Technical Analysis: Bitcoin faces minor resistance around the $90,000 USD level. A breakout above this point could signal a move toward the psychological barrier of $100,000 USD, while a failure to break this resistance could lead to a short-term correction.
