Bitcoin Crosses $84,000 As MicroStrategy Drops $2 Billion Acquiring 27,200 More BTC

The price of bitcoin has sailed past the $84,000 mark, topping out at $84,788per US dollar, following the revelation by MicroStrategy (NASDAQ: MSTR) that it has resumed buying bitcoin in substantial quantities.

The tech company this morning indicated it acquired 27,200 bitcoins during the period between October 31, 2024 and November 10, 2024. The bitcoin was acquired at an average price of $74,463, inclusive of fees and expenses, at an all-in cost of $2.03 billion.

The funds to acquire the bitcoin were raised via the issuance of 7.85 million shares through an at-the-market financing to raise gross proceeds of $2.03 billion. Under a new at-the-market sales agreement entered into on October 30, the company may sell shares for an aggregate offering price of up to $21 billion.

READ: MicroStrategy Unveils $42 Billion Plan to Expand Bitcoin Holdings

Following the purchase, MicroStrategy has total bitcoin holdings of 279,420, which the company says has provided a “BTC Yield %” of 26.4% year to date, which is based on the percentage change period to period of the ratio between the company’s bitcoin holdings and its assumed diluted shares outstanding. Quarter to date, that yield figure is said to sit at 7.3%.

The purchase notably follows the trend of bitcoin moving higher, leading some to speculate that the latest run in the crypto is solely a result of MicroStrategy acquiring massive amounts of the crypto again.


Information for this story was found via and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Avino Q2 Earnings: Steady As She Goes

MEG Energy: Cenovus Comes In With $7.9 BILLION Offer

Orla Mining Q2 Earnings: Musselwhite Changes Everything

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Bitcoin’s Market Cap Is Now Larger Than Mastercard and Visa Combined

Following a recent rally that once again sent Bitcoin soaring to a new record high,...

Wednesday, March 17, 2021, 10:24:00 AM

Analysis: A Comparison Between Bitfarms’ & Hut 8’s Bitcoin Production

Beginning in July, two of the largest and most prominent Canadian Bitcoin miners, Bitfarms Ltd....

Saturday, September 11, 2021, 01:12:00 PM

Bitcoin Price Slips After MicroStrategy Halts Buying Spree

After snapping up bitcoin almost weekly for three months, MicroStrategy (NASDAQ: MSTR) abruptly paused its...

Tuesday, February 4, 2025, 12:14:00 PM

Fiat Expansion Is Driving Money Into Hard Assets – The Daily Dive feat Florian Grummes

Today on the Daily Dive, host Cassandra Leah sits down with that of Florian Grummes,...

Tuesday, March 23, 2021, 01:30:00 PM

Nextech AR Shaken Out Of Bitcoin Position After Just Three Weeks

After announcing the purchase of bitcoin just three weeks ago, Nextech AR Solutions (CSE: NTAR)...

Friday, January 22, 2021, 08:03:47 AM