💸 #MicroStrategyOrange Expands Bitcoin Holdings to $14.14 Billion with Latest Purchase $BTC

🔼 MicroStrategy, the business intelligence firm led by CEO #MichaelSaylorBTC Saylor, has significantly increased its Bitcoin holdings, adding approximately 18,300 $BTC to its portfolio between August 6 and September 12, 2024. This latest acquisition, valued at $1.11 billion, was made at an average price of $60,408 per Bitcoin, including fees and expenses. The purchase brings MicroStrategy's total #bitcoinetfdaynewsupdate holdings to around 244,800 BTC, currently worth an estimated $14.14 billion.

ℹ️ To fund this substantial Bitcoin purchase, MicroStrategy sold over 8 million company shares through a sales agreement with various financial institutions, raising approximately $1.11 billion. This move underscores the company's continued commitment to its Bitcoin-focused strategy, which has seen its stock value rise by about 1,000% since August 2020, outperforming the S&P 500 index by more than 16 times over the same period.

Despite ongoing debates about this aggressive approach, MicroStrategy's average purchase price for Bitcoin since 2020 stands at $38,585 per BTC, representing a significant unrealized profit given current market prices.