MicroStrategy buys 5,445 additional Bitcoins for $147 million
According to a Securities and Exchange Commission filing today, Michael Saylor's MicroStrategy purchased an additional 5,445 bitcoins for $147.3 million, at an average price of $27,053 per bitcoin, between Aug. 1 and Sept. 24.
With this recent purchase, the company's bitcoin holdings total roughly 158,245 bitcoins, valued at approximately $4.1 billion at the current price of around $26,000. The corporation paid approximately $4.68 billion for the bitcoins, with an average purchase price of approximately $29,582 per bitcoin, including fees and expenditures.
MicroStrategy purchased an additional 12,800 bitcoins for around $361 million in two deals in June and August.
Those who have been following MicroStrategy's foray into the world of cryptocurrency will not be surprised by the decision. The corporation made its first Bitcoin investment in August 2020, when it made its first buy. Since then, it has continued to amass Bitcoin, even using debt and stock sales to fund some of its purchases.
The company issued and sold a total of 403,362 MSTR shares. MicroStrategy announced in August that the company aims to sell more stock to raise up to $750 million, with some of the funds going towards purchasing more Bitcoin.
The stock price of MicroStrategy has reached highs of +255% YTD and is currently at +138% YTD.
Do you have a cryptocurrency strategy?
Microstrategy is accumulating Bitcoin at any price. You can also do the same. MicroStrategy adds 5,445 Bitcoins to its portfolio, taking total holdings to ~158,245 BTC. Delve into the company's crypto acquisition journey
ICONOMI offers recurring buys or single assets and strategies, meaning you do not need to focus on “timing” the market. Continuing to purchase digital assets every month no matter the price, appears to be a a firm favourite strategy in the digital asset space.
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