- Bitcoin purchases at record levels suggest more value for BTC in the future.
- The company recorded a 59.3% Bitcoin yield year-to-date.
MicroStrategy bought another 55,000 Bitcoin for $5.4 billion this month as the price of the largest cryptocurrency hovered near 100,000. The latest filings show that MicroStrategy bought the Bitcoins between November 18 and 24, averaging a price of $97,862 per BTC.
MicroStrategy now holds 386,700 BTC, having spent a total of $21.9 billion on purchases. The Bitcoins are acquired at an average price of $56,761.
The company disclosed a BTC yield of 59.3% year to date, an increase from 35.2% at the end of the third quarter. The Bitcoin purchases were financed by a private offering of 0% convertible notes due in 2029 and the company’s at-the-market (ATM) equity program.
See Related: MicroStrategy’s Bitcoin Holdings Soar To $14.6B After Massive $1.11 Billion Purchase
Purchases Reinforce MicroStrategy’s View of BTC Future Value
The latest Bitcoin purchase shows that MicroStrategy expects a further increase in the price of Bitcoin. The cryptocurrency has been trading at new highs amid optimism brought by the election of Donald Trump in the US. A rising institutional adoption of cryptocurrency has also played a role.
The other entity to acquire Bitcoins in November is US-based healthcare company Semler Scientific. Between November 18 and 22, the company bought 297 BTCs valued at $29.1 million. Semler Scientific now holds 1,570 Bitcoins.