MicroStrategy Acquires 51,780 BTC; MARA Secures $700 Million for Bitcoin Investments

Between November 11 and 17, MicroStrategy acquired an additional 51,780 BTC for approximately $4.6 billion, with an average purchase price of about $88,627.

MicroStrategy has acquired 51,780 BTC for ~$4.6 billion at ~$88,627 per #bitcoin and has achieved BTC Yield of 20.4% QTD and 41.8% YTD. As of 11/17/2024, we hodl 331,200 $BTC acquired for ~$16.5 billion at ~$49,874 per bitcoin. $MSTR https://t.co/SRRtRrB2jO

— Michael Saylor⚡️ (@saylor) November 18, 2024

The firm financed the acquisition through proceeds from the issuance and sale of shares.

As a result, MicroStrategy’s reserves have reached 331,200 BTC, for which the firm spent approximately $16.5 billion—around $49,874 per coin.

At the time of writing, Bitcoin is trading near $89,550 (CoinGecko). The market value of the company’s cryptocurrency holdings is approximately $29.7 billion, while MicroStrategy’s market capitalization stands at $69.6 billion (Nasdaq).

According to the firm’s report, from October 1 to November 17, the yield on Bitcoin reserves reached 20%, and since the beginning of the year, the figure has approached 42%.

Earlier in November, MicroStrategy announced the acquisition of a previous batch of 27,200 BTC for $2.03 billion.

MARA Secures $700 Million for Bitcoin Purchases

The largest publicly traded mining company, MARA (formerly Marathon Digital), has closed a private placement of senior convertible notes amounting to $700 million.

Today, we announced a proposed private offering of $700 million of convertible senior notes.⁰⁰Proceeds to be used primarily to acquire bitcoin, repurchase existing convertible notes due in 2026, and for general corporate purposes. https://t.co/0vg7ri8BDX

— MARA (@MARAHoldings) November 18, 2024

The funds will primarily be used to purchase Bitcoin, as well as to repay previously issued corporate bonds and for general corporate purposes.

According to BitcoinTreasuries, the firm holds 27,562 BTC (approximately $2.47 billion), partially mined independently and additionally acquired.

Back in July, the company invested $100 million in the leading cryptocurrency, bringing its reserves to 20,000 BTC. 

Subsequently, MARA raised $250 million through the issuance of convertible bonds. The funds were used, among other things, to purchase digital gold as part of a “full hodl” strategy.