MicroStrategy, the world’s largest corporate bitcoin holder, has resumed large-scale purchases with a new $1 billion acquisition. The company bought 13,927 BTC at an average price of $71,902 per coin, bringing its total holdings to 780,897 BTC. Despite a positive year-to-date yield, the firm’s total investment remains at a significant paper loss due to its higher average purchase price.
The world’s largest corporate holder of bitcoin, MicroStrategy, has announced a major new purchase. The company acquired 13,927 BTC for approximately $1 billion, as stated by its executive chairman Michael Saylor.
This acquisition was made at an average price of $71,902 per bitcoin. The move follows a recent statement from the firm’s co-founder to think bigger, coming just 24 hours later.
The purchase ends a brief hiatus in the company’s accumulation strategy. It increases MicroStrategy’s total bitcoin stash to 780,897 BTC.
This vast holding was acquired for roughly $59 billion at an average cost of $75,577 per bitcoin. The company’s year-to-date yield on its bitcoin strategy has now risen to 5.6%.
Nevertheless, the firm’s average accumulation price remains above bitcoin’s current market value. This position results in a paper loss of approximately $3.5 billion on the total investment.
