Microstrategy acquires an additional $1.11B in bitcoins

Microstrategy, Inc. (NASDAQ:) has expanded its already sizable bitcoin holdings with a brand new buy of roughly 18,300 bitcoins, the corporate revealed in a regulatory submitting on September 13, 2024.

The acquisition, which occurred between August 6 and September 12, 2024, amounted to $1.11 billion in money, with a median value of $60,408 per bitcoin, together with charges and bills.

This newest acquisition boosts MicroStrategy’s complete bitcoin holdings to roughly 244,800 bitcoins, acquired at an combination buy value of $9.45 billion.

The corporate’s common buy value per bitcoin now stands at roughly $38,585, inclusive of charges and bills.

The corporate mentioned the acquisition was funded by means of the sale of shares underneath an current $2 billion at-the-market (ATM) inventory issuance program.

As a part of this program, MicroStrategy offered 8,048,449 shares of its Class A standard inventory, producing the $1.11 billion used for the Bitcoin acquisition.

MicroStrategy, led by CEO Michael Saylor, has been one of the crucial outstanding company proponents of Bitcoin, frequently including to its holdings as a part of its broader technique to include the cryptocurrency as a treasury asset.

The corporate’s substantial bitcoin funding, which now exceeds $9 billion, displays its confidence within the long-term worth of the digital foreign money.