MicroStrategy Boosts Bitcoin Holdings with 5,445 BTC Acquisition

Nasdaq-listed software intelligence company MicroStrategy has acquired an additional 5,445 bitcoin, increasing its total holdings to 158,245 BTC. This announcement was made by Michael Saylor, the founder and chairman of MicroStrategy, via social media.

MicroStrategy has acquired an additional 5,445 BTC for ~$147.3 million at an average price of $27,053 per #bitcoin. As of 9/24/23 @MicroStrategy hodls 158,245 $BTC acquired for ~$4.68 billion at an average price of $29,582 per bitcoin. $MSTR https://t.co/GbJtUoQfXv

— Michael Saylor⚡️ (@saylor) September 25, 2023

The purchase, approximately $147.3 million, was executed at an average price of $27,053. The company acquired extra bitcoins from August 1 to September 24, 2023, as per its SEC filing.
MicroStrategy continues to bolster its holdings, affirming faith in the cryptocurrency’s long-term value and utility.

Additional Stock Sales for Bitcoin Acquisition

In addition to its Bitcoin purchase, MicroStrategy also revealed that, as of September 24, it had sold an aggregate of 403,362 shares of its Class A common stock. The sale, as per the August 1, 2023 agreement, yielded around $145.3 million in net proceeds.

Back in August, MicroStrategy had entered into a sales agreement with Cowen and Company LLC, Canaccord LLC, and Berenberg Capital Markets LLC.

This agreement aimed to issue and sell shares of its Class A common stock, with a total offering price of up to $750 million, to fund its Bitcoin acquisitions and general corporate purposes.

Despite recent Bitcoin price fluctuations, MicroStrategy’s commitment to accumulating and holding the cryptocurrency remains steadfast. Currently, Bitcoin is trading at $26,097, reflecting a 57% year-to-date increase.

Correspondingly, MicroStrategy’s consistent accumulation of Bitcoin demonstrates its continued confidence in the digital asset as a store of value and long-term investment.

NB: Any Information provided here is NOT FINANCIAL ADVICE. Do Your Own Research before making any Financial Decisions.