MicroStrategy Adds 18,300 BTC to Its Bitcoin Reserves

🚀 Stay Ahead with AltcoinDaily.co! 🌐

Bitcoin (BTC) development MicroStrategy has expanded its portfolio with an additional 18,300 BTC valued at about $1.1 billion. The new purchases were made at an average cost of $60,408 per coin. MicroStrategy’s Executive Chairman, Michael Saylor, gave the update, earlier today in a post on X.

MicroStrategy’s Increasing BTC Holdings

According to Saylor, the company achieved a BTC yield of 4.4% this quarter and 17% year-to-date. The latest purchase pushed the company’s total Bitcoin holdings to 244,800 BTC, acquired for approximately $9.45 billion at roughly $38,585 per coin.

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
🌟 Unlock Crypto Insights with AltcoinDaily.co! 💰

— Michael Saylor⚡️ (@saylor) September 13, 2024

MicroStrategy began purchasing the leading digital asset in 2020 and has continued. On different occasions, MicroStrategy issued Convertible Senior Notes as a debt offering to buy more Bitcoin.

Last month, MicroStrategy expanded its reserve, acquiring 12,222 BTC valued at about $805 million. Recent data from BitcoinTreasuries reveals MicroStrategy is the world’s largest Bitcoin holder among all publicly traded corporations.

🦂 AltcoinDaily.co is your trusted source for the latest in crypto news and insights. 🚀

Its share price is also one of the best performing on Wall Street. As of this writing, MSTR is trading at $141.05, surging by 7.86% in the past day.

MicroStrategy Influences New Bitcoin Holders

Saylor’s consistent advocacy for BTC has drawn new buyers to the network. One of the most consistent buyers today is the Japanese investment firm Metaplanet. While the company’s Bitcoin portfolio is relatively smaller than that of MicroStrategy, its accumulation has remained consistent.

Earlier this week, the firm revealed a bold plan to grow its Bitcoin holdings. To raise funds, the firm specifically provided details of its 11th series of stock acquisition rights. According to the details, the delivery of the shares will commence on September 18 after shareholders are notified of the exercise.

Bitcoin Recovers Slightly

Meanwhile, Bitcoin’s price appears to be recovering following weeks of intense fluctuations. BTC is trading at $59,779 at press time, demonstrating a 3% increase in the past day. However, the trading volume decreased by 2.14% in the past day to $30.9 billion.

The Bitcoin price surge follows a resumption of inflows in the spot Bitcoin Exchange-Traded Fund (ETF) market.