In the past 24 hours, the price of Bitcoin (BTC) 
$88,762 surged to $82,471, while numerous altcoins reached new peaks for 2024. Shortly after, Michael Saylor shared yet another positive update, triggering a familiar wave of enthusiasm. This latest acquisition by MicroStrategy contributed to the market dynamics, prompting both excitement and analysis.
MicroStrategy Purchases Bitcoin
In a recent announcement, the company revealed it acquired 27,200 BTC at an average price of $74,463. With this purchase, MicroStrategy reported a total annual return of 26.4% on its investments, indicating its intent to continue acquiring more Bitcoin. Currently, the company holds 279,420 BTC, with an average purchase price of $42,692 and a total market value of $11.9 billion.
Following the news, Bitcoin experienced a brief dip in price but remained close to the $82,000 level. The announcement included key performance details; from October 1, 2024, to November 10, 2024, the company reported a Bitcoin yield of 7.3%, and from January 1, 2024, to November 10, 2024, the yield stood at 26.4%.
As MicroStrategy disclosed plans for significant purchases over the next three years, expectations indicate that selling off its holdings is unlikely during this period. The company’s long-term strategy aims to solidify its position in the Bitcoin market, showcasing its commitment to digital assets.
