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BlockNews
Home BREAKING NEWS

MicroStrategy’s Bitcoin Holdings Exceed $23 Billion Amid Crypto Surge

by Matoy
November 11, 2024
in BREAKING NEWS, BUSINESS, CRYPTO
Reading Time: 2 mins read
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  • MicroStrategy’s 252,200 Bitcoin holdings now valued at $23.5 billion, up over 104%
  • Bhutan’s Bitcoin holdings reach $1 billion, comprising 32% of its GDP
  • El Salvador gains 80% on Bitcoin investment, continues daily dollar-cost averaging

Business intelligence firm MicroStrategy’s Bitcoin holdings have surged in value, now worth more than $23.5 billion as Bitcoin rallied past $87,000. This substantial increase puts MicroStrategy’s 252,200 BTC investment up over 104%, according to data from “Saylor Tracker,” a platform named after executive chairman Michael Saylor.

JUST IN: MicroStrategy's $MSTR Bitcoin position is up $4.5 billion over the last 24 hours, and currently sits at $11.6 billion in profit 🚀 pic.twitter.com/JTUhPtIG7W

— BlockNews (@blocknewsdotcom) November 11, 2024

MicroStrategy’s Aggressive Bitcoin Accumulation

MicroStrategy has consistently expanded its Bitcoin holdings, making 42 separate purchases at an average price of $39,292 per BTC, according to BitcoinTreasuries. As the largest corporate Bitcoin holder, MicroStrategy holds significantly more than other firms, including Bitcoin miners Marathon Digital and Riot Platforms, which hold $2.1 billion and $840 million worth of BTC, respectively. MicroStrategy aims to raise $42 billion over the next three years through its “21/21” plan, a combination of $21 billion in equity and $21 billion in fixed-income securities to further bolster its Bitcoin reserves.

Global Bitcoin Holders Benefit from Market Surge

Other major Bitcoin holders are also benefiting from the recent price surge. Bhutan, with a Bitcoin reserve valued over $1 billion, has integrated Bitcoin into its economic strategy, using it as a strategic currency reserve. According to Arkham Intelligence, Bhutan’s BTC holdings now account for 32% of the nation’s $3.15 billion GDP, as reported by the IMF in October.

El Salvador has also profited from its Bitcoin investment, with its holdings of 5,930 BTC now worth over $482 million, reflecting an 80% gain. Led by President Nayib Bukele, the country continues its dollar-cost averaging approach, purchasing 1 BTC per day while also funding its Bitcoin acquisitions through its passport program and volcanic mining revenue.

As Bitcoin’s price reaches new highs, these countries and corporations highlight the growing adoption of Bitcoin as both a strategic investment and a financial reserve.

Tags: Microstrategy
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