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    MicroStrategy purchases 27,200 additional Bitcoins, expanding its holdings to 279,420 valued at $23 billion

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    MicroStrategy has acquired 27,200 additional Bitcoins, bringing its total to 279,420, valued at around $23 billion. The firm purchased the additional Bitcoins for approximately $2.03 billion between October 31 and November 10, at an average price of $74,463 per Bitcoin, including fees and expenses. The company financed the purchases with proceeds from share sales and reports a Bitcoin yield of 7.3% from October 1 to November 10. The MicroStrategy Bitcoin tracker tool “Saylor Tracker” reported an investment return of over 100% on November 10.

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    While some folks are scared to jump into Bitcoin when it’s peaking, MicroStrategy has buckled down, showing they’re all in for this digital currency. On November 11, the business analyzing firm turned Bitcoin fan said they picked up a whopping 27,200 Bitcoins. They cashed in a cool $2.03 billion for this. MicroStrategy purchased this digital loot between October 31 and November 10, with an average price tag of $74,463 per Bitcoin. That’s including fees and other expenses!

    Thanks to this recent buy, the company now has a total of 279,420 Bitcoins, which is close to $23 billion when we look at current market prices. MicroStrategy has been buying Bitcoins with the money from selling its shares. They reported striking deals with a range of companies on August 1 and October 30. Up until November 10, it had sold about 7.8 million shares, landing a nice $2 billion haul.

    The company also shared that its Bitcoin yield — which is basically a report card of its Bitcoin buying game plan — was 7.3% from October 1 to November 10. Looking at the full year, the yield is at 26.4%. This update comes after MicroStrategy’s share price rose following Donald Trump’s victory in the US presidential race on November 5. On November 8, MicroStrategy’s share price had zoomed up 19.9% after Trump’s win was confirmed.

    In other news, the return on investments on Bitcoin, as reported by MicroStrategy’s Bitcoin tracker “Saylor Tracker”, was over 100% on November 10. This handy tracker showed that the company’s stash was worth more than $20.5 billion even before the company’s latest Bitcoin purchase. BitcoinTreasuries data reveals the company snagged Bitcoin 42 times, busting out an average price of $39,292. The firm holds the title of the most significant corporate Bitcoin owner, followed by Marathon Digital and Riot platforms, holding Bitcoin worth about $2.1 billion and $840 million, respectively.

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