MicroStrategy bought 18,300 Bitcoin for about $1.1 billion, according to a Friday post on X by CEO Michael Saylor and a US Securities and Exchange Commission filing. It was the biggest number of Bitcoin the company has acquired since February 2021.
The company now holds 244,800 Bitcoin valued at about $14 billion, depending on movements of the market. Microstrategy, the No. 1 Bitcoin holder among public companies, said it has seen a 17% gain on its holdings this year.
Last month, Microstrategy said in a regulatory filing that it was seeking to sell its class A shares to raise as much as $2 billion to buy more Bitcoin and for general corporate purposes.
The company, which uses income from its software business to support Bitcoin purchases, has said it considers itself the world’s first Bitcoin development company, committed to the continued growth of the Bitcoin network through its activities in the financial markets, advocacy, and technology innovation.
Bitcoin is up 3.70% today at $59,998.60.
Saylor has defined Bitcoin as an asset class similar to gold and real estate, DL News reported earlier this year, following SEC approval of spot bitcoin ETFs.
“Capital is going to keep flowing from those asset classes into Bitcoin, because Bitcoin is technically superior to those asset classes,” Saylor said at the time.
