MicroStrategy has announced that it has purchased an additional 18,300 Bitcoins worth approximately $1.11 billion, or an Medium price of $60,408 per Bitcoin. With this latest purchase, MicroStrategy’s total Bitcoin holdings have increased to 244,800 BTC, worth approximately $14 billion.
MicroStrategy, a business data analytics company and one of the largest holders of Bitcoin, used the proceeds from the sale of shares to make the deal. Under the agreement signed in August, the company sold a total of 8,048,449 shares, raising the equivalent of $1.11 billion.
This is MicroStrategy’s second-largest Bitcoin purchase this year, after the company bought 12,222 BTC for $805 million in August. In total, MicroStrategy spent about $9.45 billion to buy 244,800 BTC, at an Medium price of $38,585 per Bitcoin, including fees and expenses.
Michael Saylor, founder and executive chairman of MicroStrategy, has asserted that increasing Bitcoin holdings is part of the company’s long-term strategy.
Despite the significant increase in Bitcoin holdings, MicroStrategy's stock price remained steady in premarket trading Friday morning, up 0.1% to $130.88, according to TradingView. While the stock has fallen 1% over the past month, it is up 89% YTD and 277% over the past year.
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