Michael Saylor’s MicroStrategy has announced its third Bitcoin purchase for the year and eleventh consecutive in as many weeks. The software company’s recent purchase brings its total BTC holdings to 461,000.
MicroStrategy Acquires 11,000 BTC For $1.1 Billion
In a press release, MicroStrategy announced that it had acquired 11,000 BTC for $1.1 billion at an average price of $101,191 per bitcoin. The company has now achieved a BTC yield of 1.69% year-to-date (YTD).
Meanwhile, this most recent purchase brings the company’s total BTC holdings to 461,000, which it acquired for $29.3 billion at an average price of $63,610 per bitcoin.
This marks MicroStrategy’s third Bitcoin purchase for the year and its eleventh in as many weeks, in a period spanning way back to the start of November 2024. Last week, the company acquired 2,530 BTC worth $243 million.
Michael Saylor’s company is likely to make purchases in the coming weeks as shareholders will vote today on increasing authorized Class A common shares from 330 million to 10.3 billion.
The company plans to use this as a means to raise more capital for Bitcoin acquisition. The proposal is expected to pass as Saylor controls 47% of the voting rights.
The post Breaking: MicroStrategy Acquires 11,000 BTC For $1.1 Billion appeared first on CoinGape.
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