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MicroStrategy, led by Michael Saylor, has made headlines once again by acquiring a substantial amount of Bitcoin. The company, known for being the largest corporate holder of Bitcoin, recently purchased an additional 27,200 BTC for a total of $2 billion. This latest acquisition brings MicroStrategy’s total Bitcoin holdings to 279,420 BTC, valued at nearly $23 billion.

What’s even more impressive is that MicroStrategy’s Bitcoin stash was acquired for a cumulative $11.9 billion, meaning that the company is currently enjoying profits of around $11 billion. This is a significant achievement, especially considering the recent surge in Bitcoin’s price to an all-time high of over $82,000. In fact, the latest batch of 27,200 BTC has already generated over $200 million in profit, as each coin was acquired at an average price of $74,463 and has since appreciated by nearly $8,000 per coin.

MicroStrategy’s strategy of acquiring Bitcoin involves issuing shares and using the proceeds to purchase BTC. This not only helps to boost Bitcoin’s price but also positively impacts MicroStrategy’s share price. As a result, MSTR shares have seen a significant increase, rising over 9% in pre-market trading to $295.

The company’s Bitcoin yield for this quarter stands at 7.4% and is over 26% year-to-date, showcasing the success of MicroStrategy’s investment in the cryptocurrency. With such impressive returns, it’s no wonder that the company continues to be a major player in the cryptocurrency market.

It’s important to note that CoinDesk, the source of this information, is a reputable media outlet that covers the cryptocurrency industry. Their journalists adhere to strict editorial policies to ensure integrity, editorial independence, and freedom from bias. CoinDesk is part of the Bullish group, which invests in digital asset businesses, and their employees may receive equity-based compensation from Bullish. This transparency underscores the credibility of the news and the information provided.

In conclusion, MicroStrategy’s latest Bitcoin acquisition is a testament to the company’s confidence in the cryptocurrency market. With substantial profits already realized and a strong investment strategy in place, MicroStrategy continues to solidify its position as a key player in the world of digital assets.