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In summary
- MicroStrategy acquired another 18,300 Bitcoin for nearly $1.1 billion between Aug. 6 and Sept. 12, Michael Saylor announced.
- The company purchased BTC at an average price of approximately $60,408 per token, slightly higher than the current price of $58,214.
- MicroStrategy now holds a total of 244,800 BTC, worth approximately $14.14 billion, funded by the sale of 8,048,449 shares of the company.
MicroStrategy (NASDAQ: MSTR) acquired another 18,300 Bitcoin—worth nearly $1.1 billion at the time of writing—between Aug. 6 and Sept. 12, the software company’s founder and president, Michael Saylor, announced Friday.
The firm—which is known for being very bullish on Bitcoin and began accumulating the top Cryptocurrency in 2020—bought BTC at an average price of about $60,408 per token, including fees and expenses, according to the SEC filing. That’s slightly higher than Bitcoin’s current price of $58,214, at the time of writing.
This is the firm’s largest Bitcoin purchase since February 2021, when it acquired 19,452 BTC, selling $1 billion in debt to fund the purchase.
MicroStrategy now holds a total of 244,800 BTC, worth approximately $14.14 billion, according to CoinGecko. The recent purchases were funded by the sale of 8,048,449 shares of the company.
The company remains by far the largest corporate holder of Bitcoin.
MicroStrategy controls roughly 1% of the total Bitcoin market capitalization, far outstripping the roughly $1.5 billion held by Mining firm Marathon Digital Holdings, and the $579 million held by Riot Platforms, another Bitcoin mining firm.
MicroStrategy, which sells enterprise information software, began its strategy of aggressively acquiring Bitcoin in August 2020, when prices were fluctuating around $12,000.
Since then, CEO Michael Saylor has gained a reputation for making bold predictions about Bitcoin’s bright future. Earlier this month, he predicted that Bitcoin will eventually reach “$13 million in the next 21 years,” during an interview with CNBC.
“Bitcoin (represents) 0.1% of the capital in the world right now,” he added. “I think it will reach 7% of the capital.”
The firm’s strategy has paid off so far: The company’s stock price has increased by more than 800% since it began acquiring Bitcoin in August 2020, according to Google Finance. And its Bitcoin supply was acquired at an average price of $38,585 per coin, meaning the current BTC price represents nearly a 51% improvement over cost for the firm.
MicroStrategy isn’t the only corporation that’s been buying Bitcoin this month. Japanese venture capital firm Metaplanet acquired ¥300 million ($2 million) worth of BTC earlier this month, after first announcing the strategic shift in April 2024.
MSTR’s price rose nearly 3% on Friday, according to Google Finance, to a current price of about $134.50.
Edited by Andrew Hayward
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