Microstrategy Ventures Into A Futuristic Fortune: Splurges $37.2 Million On Bitcoin In January 2024

MicroStrategy’s Bitcoin investment portfolio currently totals 190,000 Bitcoins, valued at up to $8.17 billion USD.

According to confirmation from Chairman Michael Saylor, MicroStrategy spent $37.2 million to acquire an additional 850 Bitcoins (BTC) in the “Lunar New Year” month of 2024.

This marks the first Bitcoin purchase of the new year for the publicly traded company that holds the most Bitcoin in the world. As of now, MicroStrategy owns nearly 190,000 Bitcoins, with an average purchase price of $31,409 USD. Thus, the company has invested $5.9 billion USD to accumulate this BTC amount.

At the time of reporting (at $43,101 USD per Bitcoin), the giant’s Bitcoin portfolio is valued at up to $8.17 billion USD, recording an unrealized profit of $2.2 billion USD, representing a gain of over 37.5% on the capital invested.

In the past, MicroStrategy had been “holding losses indefinitely” with its Bitcoin accumulation strategy. However, the company quickly turned the tables, with 8 average-priced transactions in 2023, including:

• March 27, 2023: executed its first Bitcoin investment of the year, acquiring an additional 6,455 BTC for $150 million USD.
• April 5, 2023: purchased an additional 1,045 BTC valued at $29.3 million USD, at an average price of $28,016 USD/BTC.
• June 28, 2023: spent $347 million USD to acquire an additional 12,333 Bitcoins, at a cost of $28,136 USD/BTC.
• July 2023: bought an additional 476 Bitcoins for $14.4 million USD.
• September 24, 2023: added 5,445 BTC valued at $150 million USD, with an average purchase price of $27,053 USD.
• November 2, 2023: spent $5.3 million USD to acquire an additional 155 BTC.
• November 30, 2023: invested $593.3 million USD to purchase an additional 16,130 BTC, at an average price of $36,785 USD/BTC.
• December 27, 2023: acquired 14,620 more Bitcoins for $615.7 million USD, at an average purchase price of $42,110 USD per Bitcoin.

Additionally, MicroStrategy intends to offer shares to continue raising funds to acquire an additional $750 million USD worth of Bitcoin. As of the end of December last year, the company had sold 1 million shares for $610 million USD.

READ MORE NEWS ON

Bitcoin | Inflation Deflation Deflation Inflation Cryptocurrencies

* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.