Breaking: MicroStrategy Acquires 51,780 BTC For $4.6 Billion, MSTR Stock Rallies

MicroStrategy has announced another Bitcoin purchase just a week after buying 27,200 BTC. The most recent purchase brings the company’s holdings to 331,200 and further cements its position as one of the largest Bitcoin holders.

MicroStrategy Acquires 51,780 Bitcoin

In a press release, the company announced that it had purchased 51,780 BTC for $4.6 billion at an average price of $88,627 per BTC. They have also achieved a BTC yield of 20.4% quarter-to0date and 41.8% year-to-date. The company now holds 331,200 BTC, which it acquired for $16.5 billion at an average price of $49,875 per bitcoin.

MicroStrategy is currently the fifth-largest Bitcoin holder behind Satoshi Nakamoto, Binance, BlackRock, and Grayscale. The company holds around 1.2% of the total Bitcoin supply.

Meanwhile, their most recent purchase comes just a week after they bought 27,200 BTC for $2 billion. The software company also revealed its intention to raise $42 billion and buy more BTC over the next three years.

This recent purchase again provides a bullish outlook for the Bitcoin price as the software company continues to bet more on the flagship crypto in line with its ‘Bitcoin Strategy.’ This development is also bullish for the MSTR stock, which has continued to benefit from MicroStrategy’s Bitcoin adoption.

MarketWatch data shows that the MSTR stock has rallied following the company’s announcement of the Bitcoin purchase. MSTR was down over 4% on pre-market trading but the stock is already up over 1% just before the market opens.

Almost Impossible To Catch Up

Market expert Punter Jeff recently highlighted how it is almost impossible for any other publicly traded company to catch up with MicroStrategy at this point. CoinGecko data shows that the public company with the second-largest Bitcoin holdings is Bitcoin miner MARA, and they hold only about 26,000 BTC, which is way below the software company’s 331,200 BTC.

Jeff also noted that MicroStrategy’s Bitcoin holdings are more than two times that of the whole equities market combined. The expert opined that the bull case is looking at the company’s BTC holdings as a technological advantage and a significant “moat.”

He remarked that any other public-traded company trying to catch up with MicroStrategy at this point would have to spend a significant amount of money to do so. Jeff said anything company looking to do so from scratch will need to spend up to $60 billion. Interestingly, the expert noted that only about eight companies have up to cash at hand to be able to buy this worth of Bitcoin.

MARA, however, looks to be doing its bit to keep up with MicroStrategy. The Bitcoin miner recently announced plans to raise $700 million, of which a significant amount of it will be used to purchase more BTC.