MicroStrategy buys Bitcoin worth $458m, total holdings hit 252,220 BTC
MicroStrategy announced it had completed its $1 billion convertible senior notes offering. The company planned to use the proceeds to buy more Bitcoin btc-0.9%Bitcoin.
Hours later, Michael Saylor, the company’s founder and chairman, revealed that the firm purchased Bitcoin worth over $458 million. According to details filed with the U.S. Securities and Exchange Commission on September 20, 2024, MicroStrategy acquired the additional BTC at the average price of $61,750 per BTC.
MicroStrategy, an artificial intelligence-powered cloud analytics firm that’s currently the largest public holder of Bitcoin, also announced it achieved a total BTC yield of 5.1% quarter-to-date and 17.8% year-to-date.
The latest purchase brings the company’s total holdings to 252,220 BTC, up from 244,800 BTC.
Since it first acquired Bitcoin in August 2020, the Michael Saylor-led company has spent approximately $9.9 billion to add BTC to its balance sheet. This includes the recent addition of 18,300 BTC for $1 billion.
These assets have been acquired at the average price of $39,266 per BTC, meaning the company’s unrealized profit stands at over $5.9 billion. In August 2024, Saylor disclosed he has $1 billion in personal BTC holdings.
