MicroStrategy (MSTR) Inc. has made another significant Bitcoin (BTC) purchase, adding $5.4 billion worth of cryptocurrency to its holdings. This is the company's third Bitcoin purchase in November, accelerating its Bitcoin accumulation strategy.
Known as the "Bitcoin Treasury," MicroStrategy now holds the largest institutional stake in the cryptocurrency market.
MSTR Surges Over 20% Last Week
The recent acquisition was partially funded by the proceeds from a $3 billion convertible bond offering. The company's stock (MSTR) has surged alongside its Bitcoin purchases.
There is a strong correlation between the company's performance and Bitcoin price movements. MSTR has risen over 20% in the past week and nearly 80% this November.
"MicroStrategy has acquired 55,500 BTC for ~$5.4 billion, and achieved a BTC yield of 35.2% QTD and 59.3% YTD." - Michael Saylor, posted on X (formerly Twitter).
With Bitcoin prices surging over 150% this year, MicroStrategy's stock has seen an astonishing 515% growth since the beginning of the year. This momentum has propelled the company into the top 100 publicly traded companies in the US.
As of November 25th, MicroStrategy's Bitcoin holdings are worth around $32 billion, exceeding the cash and liquid asset holdings of major companies like IBM, Nike, and Johnson & Johnson.
Earlier this year, Michael Saylor revealed plans to raise $42 billion for additional Bitcoin investments from 2025 to 2027. This "21/21 Plan" aims to secure $21 billion each from equity and fixed-income securities to significantly expand the company's cryptocurrency holdings.
Meanwhile, BlackRock, the largest Bitcoin ETF issuer in the US, has increased its stake in MicroStrategy to 5.2%.
