2024

Bitcoin

Million

<p>As <a href="https://coingape.com/bitcoin-btc-price-breaches-above-71k-eth-new-high/">Bitcoin’s (BTC)</a> value hits unprecedented peaks, MicroStrategy consistently acquires more of the cryptocurrency, capitalizing on each surge in price. According to the latest documentation filed with the SEC, the firm has added another <a rel="nofollow" href="https://www.microstrategy.com/press/microstrategy-acquires-additional-12000-btc-and-now-holds-205000-btc_03-11-2024">12,000 Bitcoins</a> to its holdings in just the past fortnight.</p> 
<h3 id="microstrategy-buys-821-million-worth-of-bitcoins">MicroStrategy Buys $821 Million Worth of Bitcoins</h3> 
<p>MicroStrategy Chairman Michael Saylor announced today that the company has acquired an additional 12,000 bitcoins, amounting to approximately $821.7 million. The acquisition was made using proceeds from convertible notes and excess cash, with each bitcoin purchased at an average price of approximately $68,477.</p> 
<p>As of March 10, 2024, MicroStrategy now holds a total of 205,000 bitcoins, acquired for approximately $6.91 billion. The average price per bitcoin in MicroStrategy’s portfolio stands at $33,706.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">MicroStrategy has acquired an additional 12,000 BTC for ~$821.7M using proceeds from convertible notes &amp; excess cash for ~$68,477 per <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a>. As of 3/10/24, <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> hodls 205,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> acquired for ~$6.91B at average price of $33,706 per bitcoin. <a href="https://t.co/YayyKtpz8d">https://t.co/YayyKtpz8d</a></p> 
 <p>— Michael Saylor<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@saylor) <a href="https://twitter.com/saylor/status/1767158870294605904?ref_src=twsrc%5Etfw">March 11, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>The latest purchase comes after Microstrategy <a href="https://coingape.com/michael-saylors-microstrategy-buys-155m-in-bitcoin" target="_blank" rel="noopener">acquired</a> 3,000 Bitcoin worth $155 million as per the filing on February 26. Since then the company has been working its way to raise an additional <a href="https://coingape.com/just-in-microstrategy-eyes-600m-boost-after-shares-skyrocket-23/" target="_blank" rel="noopener">$600 million</a> through the sale of its convertible notes.</p> 
<p>The notes are characterized as unsecured, senior obligations of the company and will follow a semi-annual interest payment schedule beginning on September 15, 2024. Their maturity date is scheduled for March 15, 2030, although conditions exist for earlier repurchase, redemption, or conversion. Interestingly, just a few days ago, the company <a href="https://coingape.com/breaking-microstrategy-upsizes-notes-sale-to-700m-to-buy-more-bitcoin/" target="_blank" rel="noopener">upsized</a> its note sale to more than $700 million.</p> 
<h3 id="mstr-share-price-skyrockets">MSTR Share Price SkyRockets</h3> 
<p>As soon as the news broke out, the MicroStrategy (NASDAQ: MSTR) share price skyrocketed by an additional 10% in the pre-market hours on Monday, March 11. This shows the MSTR share price trading at a staggering $1,562 with its market cap shooting to 24.19 billion USD.</p> 
<p>The MSTR stock has already surged by a massive 108% since the beginning of this year in 2024. As a result, the company has outperformed Bitcoin (BTC) whose gains stand at 61% year-to-date. On the yearly chart, the MSTR share price is up by a staggering 538% while the Bitcoin price is up by 250%.</p> 
<p>MicroStrategy chairman Michael Saylor recently <a href="https://coingape.com/michael-saylor-hails-success-of-new-bitcoin-etfs/" target="_blank" rel="noopener">hailed</a> the success of the new Bitcoin ETFs. As per the recent CoinGape <a href="https://coingape.com/blog/michael-saylor-how-much-money-did-michael-saylor-make-from-bitcoin/" target="_blank" rel="noopener">report</a>, MicroStrategy is already sitting on a profit of close to $3.5 billion on its massive Bitcoin holdings.</p> 
<p>The post <a href="https://coingape.com/breaking-microstrategy-bitcoin-holdings-exceed-200000-in-latest-acquisition/">MicroStrategy Adds 12,000 Bitcoins, Portfolio Hits 205K</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

MicroStrategy Adds 12,000 Bitcoins, Portfolio Hits 205K

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