Microstrategy, Inc. (NASDAQ:MSTR) in a regulatory filing dated September 13, 2024 announced the expansion of its already large holdings of Bitcoin by purchasing approximately 18,300 new bitcoins.
The acquisition, which took place between August 6 and September 12, 2024, took place for $1.11 billion in cash, at an average price of $60,408 per bitcoin, including fees and charges.
This latest acquisition brings the total microstrategic holdings of Bitcoin to approximately 244,800 BTC, acquired at a total purchase price of $9.45 billion.
The average purchase price per bitcoin is now around $38,585, including fees and charges.
The company said the purchase was financed by a share sale under an existing $2 billion market share issuance (ATM) program.
As part of this program, MicroStrategy sold 8,048,449 of its Class A common stock, generating $1.11 billion used to buy Bitcoin.
Microstrategy, led by CEO Michael Saylor, is one of the most prominent pro-Bitcoin companies, as it continues to add more to its holdings as part of its broader strategy to integrate the cryptocurrency as an asset in its treasury.
The company’s significant investment in Bitcoin, which now exceeds $9 billion, reflects its confidence in the long-term value of the digital currency.
This article was translated with the help of an artificial intelligence program after an editor’s review. For more details please refer to Banha Terms and Conditions
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