As Bitcoin (BTC) has been rising continuously and setting new highs in recent days, the stock price of Microstrategy, the publicly traded company that holds the most Bitcoin globally, has also been soaring. On November 11, the stock broke through its historical high of $333 set in 2000, reaching a peak of $351.73, resulting in a year-to-date gain of 440%.
Bloomberg senior ETF analyst Eric Balchunas stated on the social platform X that Microstrategy's trading volume on that day reached a record-breaking $12 billion, which is six times the trading volume of JPMorgan or General Electric stocks.
Microstrategy announced on Monday that it had made another Bitcoin purchase, acquiring approximately 27,200 BTC for around $2.03 billion during the period from October 31 to November 10, 2024, at an average price of $74,463 per BTC, including fees and other costs.
As of the completion of this latest purchase, Microstrategy and its subsidiaries now hold a total of approximately 279,420 BTC, with a total investment of around $11.9 billion and an average cost of $42,692 per BTC. Based on the pre-publication BTC price of around $87,900, the unrealized profit on Microstrategy's BTC holdings is approximately $12.6 billion.
Microstrategy announced its "21/21 Plan" when it released its Q3 financial results at the end of October, aiming to raise $42 billion over the next three years to support further Bitcoin purchases as part of its treasury reserve strategy.
The cryptocurrency market has continued to rebound since Donald Trump's confirmation as the next U.S. president. BTC has risen approximately 27% since the election day (November 6, Taiwan time), briefly surpassing $89,000 earlier today, while the second-largest cryptocurrency Ether (ETH) has gained nearly 40%, trading at $3,340 prior to publication.
