MicroStrategy upped its Bitcoin portfolio by acquiring 18,300 BTC for $1.11B. The transaction occurred between August 6 and September 12, with an average price of $60,408 per bitcoin. This acquisition boosts the company's total bitcoin holdings to 244,800 BTC, worth nearly $14B.
MicroStrategy's founder and executive chairman, Michael Saylor, claimed that the business purchased its entire Bitcoin stockpile at an average price of $38,585 per coin. The overall investment, including fees, comes to $9.45B.
A share offering deal supported the most recent purchase. MicroStrategy sold 8,048,449 shares, generating $1.11 billion. This comes after they paid $805M for 12,222 BTC in August.
Despite these major movements, MicroStrategy's stock price has stayed stable. It rose 0.1% to $130.88 in pre-market trade on Friday. While the stock has fallen 1% in the last month, it is up an astounding 89% year to date and 277% over the previous year.
This recent acquisition shows MicroStrategy's commitment to its Bitcoin strategy. Their goal is to cement its position as a significant corporate bitcoin holder. And they are already there.
