MicroStrategy, once known for its business software, has solidified its position as a major player in the cryptocurrency world. The company, now referring to itself as a bitcoin development firm, recently added 18,300 more bitcoins (BTC) to its substantial holdings. Executive Chairman Michael Saylor announced the acquisition on Friday, revealing the purchase was made at an average price of $60,408 per bitcoin.
This brings MicroStrategy’s total BTC holdings to 244,800, acquired at an average price of $38,585 per bitcoin, with a total investment of $9.45 billion. At the current bitcoin price of just under $58,000, the company’s BTC portfolio is now valued at approximately $14 billion.
Impressive Bitcoin Yield for MicroStrategy
Saylor also shared that MicroStrategy has achieved a 4.4% yield on its Bitcoin holdings for the current quarter, with a year-to-date yield of 17%. This yield metric, developed by the company, measures the percentage change in the ratio between its bitcoin holdings and its assumed diluted shares outstanding over a given period.
Largest Bitcoin Holder Among Publicly Listed Companies
Since first purchasing bitcoin in 2020, MicroStrategy has continued to accumulate the cryptocurrency. According to BitcoinTreasuries data, the firm is now the largest Bitcoin holder among publicly listed companies worldwide.
MicroStrategy’s shares remain steady in premarket trading and have surged by 91% year-to-date, reflecting investor confidence in its bold bitcoin strategy.
