MicroStrategy just made a huge Bitcoin purchase – its biggest in eight months! This latest move shows they’re still heavily invested in the cryptocurrency.
The Details of the Purchase
Chairman Michael Saylor announced on X (formerly Twitter) that the company bought 21,021 Bitcoin at an average price of $117,256 per coin. That’s a total investment of $2.46 billion! They used money from their recent initial public offering (IPO) of preferred stock to fund this purchase. This IPO was huge – the biggest in the US so far this year.
After this purchase, MicroStrategy now holds a whopping 628,791 Bitcoin, with an average cost of $73,277 per coin. Their total investment in Bitcoin is now around $46 billion.
A Look Back at MicroStrategy’s Bitcoin Buying
This $2.46 billion buy is MicroStrategy’s largest since November 2024. Their previous purchases were even bigger, with one reaching over $5 billion and another nearing $4.6 billion.
Profits and the Current Market
At the current Bitcoin price, MicroStrategy’s Bitcoin holdings are worth approximately $74 billion. That’s a profit of about $28 billion – a massive 60.6% return!
While MicroStrategy is holding onto its Bitcoin (HODLing), some other large investors are selling, according to Glassnode. Data shows a shift in ownership from long-term holders to short-term holders. Glassnode suggests this pattern often precedes new all-time highs for Bitcoin.
Bitcoin’s Current Price
At the time of writing, Bitcoin is trading around $117,800, slightly down for the day.