YEREVAN (CoinChapter.com) — MicroStrategy continues its Bitcoin acquisition strategy with the purchase of 18,300 BTC, valued at $1.11 billion. This significant MicroStrategy Bitcoin purchase was made between August 6 and September 12, 2024, according to an SEC filing. As a result, MicroStrategy BTC holdings now total 244,800 BTC, worth approximately $14.14 billion.
MicroStrategy SEC Filing Form 8-K, Source: SEC MicroStrategy Funds BTC Purchase Through Share Sales
Notably, the latest MicroStrategy Bitcoin strategy was financed by selling over 8 million company shares. Through a sales agreement with financial institutions on August 1, the company raised $1.11 billion. By September 12, MicroStrategy SEC filing confirmed that 8,048,449 shares were sold, securing funds for the acquisition.
The company acquired these 18,300 BTC at an average price of $60,408 per Bitcoin, including expenses. While the purchase price is higher than its average of $38,585 per BTC since 2020, the MicroStrategy Bitcoin purchase reflects its continued aggressive approach toward digital assets.
MicroStrategy Now Owns 1% of All Bitcoin in Circulation
Following this latest acquisition, MicroStrategy BTC holdings represent roughly 1% of all Bitcoin ever issued. In act, the company began its Bitcoin strategy in August 2020 under the leadership of Michael Saylor, its co-founder and executive chairman. To date, MicroStrategy Bitcoin strategy has led to a total investment of $9.45 billion in Bitcoin.
This bold approach has made MicroStrategy BTC holdings one of the largest among public companies, with its stock price benefiting significantly. Since 2020, MicroStrategy stock has surged 1,000%, driven by its heavy investment in Bitcoin.
Michael Saylor’s Ongoing Confidence in Bitcoin
Michael Saylor, a prominent advocate of Bitcoin, continues to push forward with MicroStrategy Bitcoin strategy. He views Bitcoin as a reliable store of value compared to traditional assets like cash, bonds, and gold. Saylor’s commitment is evident in his personal investment, which totals around $1 billion worth of BTC.
Michael Saylor’s Tweet on MicroStrategy’s 18,300 BTC Purchase, Source: X
Saylor’s strategy reflects his long-term confidence in Bitcoin. The company continues to add to its MicroStrategy BTC holdings as part of this broader investment plan. With this latest acquisition, MicroStrategy Bitcoin purchase cements its role as a major player in the cryptocurrency space.
Bitcoin Price and MicroStrategy’s Stock Surge
Moreover, in August 2024, MicroStrategy BTC holdings were valued at $13.77 billion, with 226,500 BTC. The recent purchase brings the company’s total to 244,800 BTC, worth $14.14 billion. Subsequently, MicroStrategy stock has also surged, more than doubling in value this year.
As of now, Bitcoin is trading at $58,820, with a 2.3% increase in the last 24 hours and an 8% rise in the past week. This upward trend in Bitcoin’s price has further enhanced the value of MicroStrategy Bitcoin purchase.
Certainly, the ability of Bitcoin to break through key resistance levels, including the 200-day exponential moving average at $59,775, remains a crucial focus for analysts.
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