Key points
- MicroStrategy purchased 7,420 BTC for $458.2 million at an average price of $61,750 per bitcoin.
- The company’s total bitcoin holdings now stand at 252,220 BTC, acquired for $9.9 billion.
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MicroStrategy has acquired 7,420 Bitcoin (BTC) for approximately $458.2 million, at an average price of $61,750 per BTC, as revealed on September 20 by the company’s CEO, Michael Saylor.
The tech firm now has 252,220 BTC in its treasury, with an average price of $39,266 per BTC, which amounts to a total of $9.9 billion invested. It is worth noting that the company’s unrealized gain is almost $6 billion considering the Bitcoin price of $62,871.62 at the time of writing this article.
The company reported a BTC return of 5.1% QoQ and 17.8% YTD as of Sept. 19, 2024. MicroStrategy gained further ground as the publicly traded company with the largest Bitcoin holdings, now holding a 226,275 BTC lead over Marathon Digital’s 25,945 BTC.
Additionally, this move comes a week after Saylor… revealed a massive purchase of 18,300 BTC on September 13, at an average price of $60,408, for a total of approximately $1.11 billion.
This is a continuation of MicroStrategy’s acquisition spree. registered in the second quarter, when the company added 12,222 BTC to its treasury by spending more than $805 million.
In Q3, MicroStrategy added 25,720 BTC to its holdings.
Getting ready for a big drink
However, this might not be the last Bitcoin acquisition by MicroStrategy this quarter. The company announced the issuance of $700 million through convertible senior bonds to buy more Bitcoin on September 16, but revealed Today the offer has increased to more than a billion dollars.
It is not yet clear whether MicroStrategy will use the entire new pool of money to acquire Bitcoin in a single large purchase, as recorded on September 13. However, the company’s statement makes clear that the money will be used to buy more Bitcoin.
In particular, this will bring the amount invested in Bitcoin denominated in US dollars by MicroStrategy close to $11 billion, while surpassing the 270,000 BTC threshold.
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