Breaking: MicroStrategy Acquires 11,000 BTC For $1.1 Billion

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.

MSTR Stock Fails To React

The MSTR stock price failed to react positively to the news of MicroStrategy’s latest Bitcoin purchase. Nasdaq data shows that the stock is currently in the red and trading at around $395.

However, it is worth mentioning that the stock has rebounded well from its 2024 end-of-the-year slump and has begun this year in the green. MicroStrategy’s stock is up over 30% year-to-date (YTD). The stock was one of the best-performing assets last year despite the year-end slump and could again have a historic year.

CryptoQuant’s CEO Ki Young Ju recently made a case for the MSTR stock. In an X post, he stated that the stock is undervalued compared to the company’s Bitcoin holdings. He shared an accompanying chart which showed that the stock’s BTC holdings premium was still well below the stock’s price.