Since Trump's election, Bit has been rising continuously, and yesterday it even rose $2,000 within an hour, breaking through the $79,000 mark. In the early hours of today, it continued to surge, breaking through $80,000 around 1:30 am, and reached a new high of $81,730 around 10 am this morning.
MicroStrategy's holdings value surpasses $20 billion
With Bit breaking through $81,000, the unrealized gains of the Bit holding giant MicroStrategy, a US-listed company, have also exceeded $10 billion for the first time.
According to the latest statistics from bitcointreasuries, MicroStrategy currently holds 252,220 Bit, and the value of its holdings has exceeded $20 billion for the first time, reaching $204.7 billion, with a total cost of $99 billion and an average purchase price of around $39,266 per Bit, resulting in unrealized gains of $105.7 billion.
Michael Saylor hints at further Bitcoin purchases
However, MicroStrategy founder Michael Saylor seems to be unsatisfied with this. He posted last night: "I think saylortracker.com needs more green dots."
"saylortracker.com" is a website that tracks MicroStrategy's Bit purchase activities, and the green dots represent the company's new Bit purchase records. Therefore, Saylor's statement that "it needs more green dots" is undoubtedly hinting that MicroStrategy should continue to increase its Bit purchases.
I think https://t.co/meaZhpFNq9 needs more green dots. pic.twitter.com/faeNCKAvNQ
— Michael Saylor
(@saylor) November 10, 2024
Raising $42 billion to buy more Bitcoin
At the end of October, when MicroStrategy released its Q3 financial report, Saylor announced the launch of the "21/21 Plan", where MicroStrategy will raise $21 billion through equity financing and issue $21 billion in bonds over the next three years, for a total of $42 billion, to be used to purchase more Bit.
MicroStrategy's President and CEO Phong Le stated that this move is to enhance the company's Bit holdings returns:
As a Bit-focused financial services company, we plan to use the additional capital to purchase more Bit as a treasury reserve asset, so that we can achieve higher Bit returns.
So far this year, MicroStrategy's Bit returns have been 17.8%, and the company plans to achieve annual Bit returns of 6% to 10% between 2025 and 2027.
Currently, $42 billion is equivalent to approximately 518,518 Bit, accounting for 2.47% of the total Bit supply. Previously, Saylor had mentioned that the company's ultimate goal is to become the leading Bit bank and grow into a company worth trillions of dollars, and it seems that he is now determined to move towards this goal.
MicroStrategy announces $42 billion capital plan including $21 billion ATM equity offering and a target of raising $21 billion in fixed-income securities. Join us at 5pm ET as we discuss our quarterly results and #Bit Treasury Company plans. $MSTR https://t.co/eXYELbN1Dm
— Michael Saylor
