MicroStrategy Acquires 12000 Fresh BTC
MicroStrategy continues to make waves with their latest acquisition of Bitcoins, totaling a whopping $786 million. Founder Michael Saylor confirmed on Thursday that the company used proceeds from convertible notes to purchase 11,931 BTC, further expanding their Bitcoin holdings.
The purchase, made between April 27 and June 19, was done at an average price of approximately $65,883 per BTC. This brings MicroStrategy’s total Bitcoin holdings, along with its subsidiaries, to 226,331 BTC, which is valued at around $15 billion.
This significant move comes hot on the heels of MicroStrategy’s announcement of an $800 million offering in convertible senior notes, with the intention of acquiring more Bitcoins. Despite this massive purchase, MicroStrategy is still trailing behind BlackRock, which currently holds over 305,000 BTC in its spot Bitcoin exchange-traded fund.
As a result of the announcement, MicroStrategy’s share price (MSTR) saw a 2.3% increase in pre-market trading, reaching $1,503, according to Nasdaq data. At the time of writing, Bitcoin is trading at approximately $65,944, according to CoinMarketCap data.
With this latest move, it is clear that MicroStrategy is committed to its Bitcoin endeavors and is poised to continue its investment in the cryptocurrency.
