- MicroStrategy has expanded its Bitcoin holdings by purchasing an additional 11,931 BTC for roughly $786 million.
- With this new acquisition, MicroStrategy now holds 226,331 Bitcoin, valued at nearly $15 billion.
Michael Saylor is a prominent advocate for Bitcoin, a fact demonstrated by his posts on X (formerly Twitter) and his company, MicroStrategy's, significant investments in Bitcoin. Recently, this commitment was further underscored as MicroStrategy expanded its Bitcoin portfolio.
Michael Saylor announced on X that MicroStrategy has purchased an additional 11,931 BTC. Between April 27, 2024, and June 19, 2024, MicroStrategy invested approximately $786.0 million in cash to acquire these bitcoins.
MicroStrategy has acquired an additional 11,931 BTC for ~$786.0M using proceeds from convertible notes & excess cash for ~$65,883 per #bitcoin. As of 6/20/24, $MSTR hodls 226,331 $BTC acquired for ~$8.33B at average price of $36,798 per bitcoin.https://t.co/jE9dGqqnON
— Michael Saylor⚡️ (@saylor) June 20, 2024
According to MicroStrategy, this investment was funded through proceeds from the Offering and Excess Cash, as defined in the company's quarterly Form 10-Q report for the period ending March 31, 2024. The bitcoins were bought at an average price of about $65,883 each, including fees and expenses.
With the recent acquisition, the business intelligence company now possesses 226,331 Bitcoin, with a market value of nearly $15 billion, given the current price of Bitcoin at approximately $66,000. Not to mention, MicroStrategy is the largest corporate holder of Bitcoin, owning nearly 1% of the total circulating supply, which is close to 20 million tokens.
In the first quarter of 2024, the company secured $1.5 billion through two convertible note debt offerings, which enabled the purchase of an additional 25,250 Bitcoin. This increased the firm's total Bitcoin holdings to 214,400, valued at about $13.6 billion.
Edited by Harshajit Sarmah
