Between August 6 and Friday, MicroStrategy purchased $1.11 billion worth of Bitcoin, equivalent to 18,300 new BTC. These purchases bring the company's total stash to 244,800 bitcoins.
MicroStrategy Further Increases Its Bitcoin (BTC) Reserve
Friday, MicroStrategy Announces Purchase of 18,300 New BTCthus increasing the value of its Bitcoin treasury by an additional $1.11 billion. In total, the latter now stands at 244,800 bitcoins, all purchased at $9.45 billion for an average unit price of $38,585:
MicroStrategy has acquired 18,300 BTC for ~$1.11 billion at ~$60,408 per #bitcoin and has achieved BTC Yield of 4.4% QTD and 17.0% YTD. As of 9/12/2024, we hodl 244,800 $BTC acquired for ~$9.45 billion at ~$38,585 per bitcoin. $MSTR https://t.co/WBBRSKxA1U
— Michael Saylor⚡️ (@saylor) September 13, 2024
💡 How to buy Bitcoin (BTC)?
These new bitcoins were purchased over a period spanning from August 6 to September 12, for an average price per BTC of $60,408, including fees and expenses. This new buying campaign is far from trivial, as the quantity purchased represents Nearly 7.5% of the entire BTC reserve now held by MicroStrategy.
Now, the company owns nearly 1.24% of the circulating Bitcoin market cap, a figure that could actually be even larger if you factor in the BTC that is considered missing.
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A purchase financed by the issue of new shares
Earlier this year, MicroStrategy used bond issues to finance its bitcoin purchases. This time, the company has chosen to issue new class A shares to raise the necessary funds:
On September 13, 2024, the Company announced that as of September 12, 2024, the Company had sold an aggregate of 8,048,449 Shares under the Sale Agreement for aggregate net proceeds to the Company (less selling commissions) of approximately $1.11 billion.
👉 Also in the news — Bitcoin (BTC): Coinbase's cbBTC is now officially deployed
Month after month, we see that MicroStrategy remains true to its ambitions by buying more and more BTC. For its part, the asset has continued its recovery, rising by 4.24% in 24 hours. At the time of writing, BTC is trading at $60,371.
For his part, MSTR stock rose 8.18% in Friday tradingreaching a price of $141.47 and a market capitalization of nearly $25 billion.
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Source: MicroStrategy
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Since 2021, I have devoted my free time to seriously training myself on cryptocurrencies in order to acquire as much knowledge and credibility as possible. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyses on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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