MicroStrategy acquired 18,300 Bitcoin between Aug. 6 and Sept. 12, 2024, for $1.11 billion at an average price of $60,408 per BTC.
The company raised $1.11 billion through the sale of 8 million shares to fund its latest Bitcoin purchase.
MicroStrategy's Bitcoin holdings now total 244,800 BTC, valued at approximately $14.14 billion, with an average purchase price of $38,585 per BTC.
MicroStrategy, a publicly traded business intelligence and software company increased the amount of Bitcoin it owns with a sizable acquisition. From August 6 to September 12, the business bought about 18,300 Bitcoin.
Notably, with fees and other expenses included, the $1.11 billion total investment was executed at an average price of $60,408 per Bitcoin. The company's resolve to expand its cryptocurrency portfolio is reaffirmed by this action.
https://twitter.com/WatcherGuru/status/1834564983792828880 Funding the Acquisition Through Stock Sales
Prior to this, MicroStrategy sold a sizable portion of its shares to pay for this acquisition. The sale of 8,048,449 shares brought in about $1.11 billion for the company. This money was then immediately used to purchase additional Bitcoin, in line with the business's continuing plan to use its equity to increase its reserves of cryptocurrency.
Additionally, on August 1st, a sales agreement was made for these shares in collaboration with multiple financial institutions. The deal was finalized by September 12th, greatly increasing MicroStrategy's Bitcoin holdings.
Increasing Bitcoin Reserves to $14.14 Billion
Notably, MicroStrategy now has roughly 244,800 BTC in total as a result of this most recent acquisition. These holdings are currently valued at approximately $14.14 billion in total. Since making its initial purchase of Bitcoin in August 2020, MicroStrategy has gradually increased the size of its portfolio.
Since then, the company's average acquisition price per Bitcoin is $38,585. To date, the total investment made has been close to $9.45 billion.
https://twitter.com/saylor/status/1834564555944481227 MicroStrategy’s Continued Impact on the Market
However, analysts and investors have continuously disagreed over MicroStrategy's approach to Bitcoin. While some see the company's aggressive Bitcoin acquisition as a risky move, others think it shows faith in the long-term potential of cryptocurrencies.
Notably, despite changes in the market, the company has not slowed its acquisitions. Since August 2020, its holdings of Bitcoin have grown significantly, outpacing the S&P 500 index in this time frame. Furthermore, since MicroStrategy made its first Bitcoin purchase, the value of its stock has increased by 1,000%.
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