MicroStrategy has announced that it has purchased another 55,500 BTC for $5.4 billion, raising its total bitcoin holdings to 386,700 $BTC.
MicroStrategy has significantly increased its Bitcoin holdings, announcing the purchase of 55,500 BTC for $5.4 billion, bringing its total to 386,700 BTC.
MicroStrategy Acquires 55,500 BTC
According to a press release, MicroStrategy revealed it had acquired 55,500 BTC between November 18 and 24 at an average price of $97,862 per Bitcoin.
This acquisition boosts the company’s quarter-to-date (QTD) BTC yield to 35.2% and its year-to-date (YTD) yield to 59.3%.
The software firm now owns 386,700 BTC, obtained at a total cost of $21.9 billion, with an average purchase price of $56,761 per Bitcoin. MicroStrategy continues to be the largest public company Bitcoin holder globally.
Interestingly, MARA Holdings, the second-largest public company Bitcoin holder, announced last week that it had purchased 5,771 BTC at an average price of $95,554 per Bitcoin.
Despite this, MARA’s total holdings of approximately 33,875 BTC are significantly lower than MicroStrategy’s 386,700 BTC.
MicroStrategy also ranks as the fourth-largest Bitcoin holder overall, trailing Satoshi Nakamoto, Binance, and BlackRock.
A History of Bitcoin Accumulation
MicroStrategy ranks as the fourth-largest Bitcoin holder overall, behind Satoshi Nakamoto, Binance, and BlackRock. The company has been accumulating Bitcoin since August 2020, when co-founder Michael Saylor introduced the ‘Bitcoin Strategy’.
This strategy has significantly benefited the company’s stock, MSTR, which has been among the top-performing assets since 2020.
Following the recent Bitcoin purchase announcement, MSTR’s stock price rose by nearly 4% in pre-market trading and is up over 6% since the market closed on November 22.
The stock’s performance briefly placed MicroStrategy among the top 100 publicly traded US companies.
The company is now aiming for inclusion in the Nasdaq 100, with the annual re-ranking set to be announced on December 13.
Bitcoin Price Outlook
Following MicroStrategy’s acquisition, analysts are actively discussing Bitcoin’s potential trajectory as it approaches the $100,000 milestone.
Crypto analyst CrediBULL Crypto has described Bitcoin’s outlook as “insanely bullish” across short-, medium-, and long-term timeframes.
However, analyst MikyBULL Crypto has cautioned that Bitcoin must maintain a price above $94,000. If Bitcoin fails to hold this level and begins breaking down its lower timeframe structure, it could signal a momentum shift and trigger a larger correction, potentially dropping BTC to the mid- to low $80,000 range.
Despite this caution, analysts believe Bitcoin is unlikely to have reached its peak in the current market cycle. VanEck Chief Matthew Sigel has even projected that Bitcoin could rally as high as $180,000.
