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<a href="https://u.today/michael-saylor-makes-epic-bitcoin-call-amid-market-lull-details" rel="noopener noreferrer nofollow">Michael Saylor</a>, the cofounder and chairman of MicroStrategy, has taken to X (formerly Twitter) to share an exciting update about the company's growing Bitcoin stash.
Saylor <a href="https://x.com/saylor/status/1803763490928119950" rel="noopener noreferrer nofollow">revealed</a> that MicroStrategy has bolstered its cryptocurrency reserves by acquiring an additional 11,931 BTC, amounting to over $786 million. This was financed through the proceeds from convertible notes and excess cash, purchasing the BTC coins at an average price of approximately $65,883 per BTC.
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 MicroStrategy has acquired an additional 11,931 BTC for ~$786.0M using proceeds from convertible notes &amp; excess cash for ~$65,883 per <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#bitcoin</a>. As of 6/20/24, <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$MSTR</a> hodls 226,331 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> acquired for ~$8.33B at average price of $36,798 per bitcoin.<a href="https://t.co/jE9dGqqnON" rel="noopener noreferrer nofollow">https://t.co/jE9dGqqnON</a>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1803763490928119950?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 20, 2024</a>
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The said 11,931 Bitcoin were acquired between April 27 and June 19, according to a filing on Thursday with the U.S. Securities and Exchange Commission (SEC). Notably, this is MicroStrategy’s third largest acquisition of Bitcoin following its $821 million purchase of 12,000 tokens on March 11.
This substantial acquisition adds to MicroStrategy's already significant Bitcoin holdings. As of June 20, 2024, the company now holds a total of 226,331 BTC, acquired for over $8.33 billion at an average price of $36,798 per Bitcoin.
MicroStrategy's decision to expand its Bitcoin stash coincides with a period of lackluster price movements for the crypto market. Bitcoin has slightly eased after an impressive rally that took it to all-time highs of above $73,000 in mid-March. At the time of writing, BTC was down 0.18% in the last 24 hours to $64,859, extending its sell-off for this week.
<a href="https://u.today/microstrategys-michael-saylor-makes-bitcoin-satoshi-statement-details" rel="noopener noreferrer nofollow">MicroStrategy</a>'s aggressive investment strategy has positioned it as a leading corporate holder of Bitcoin, reflecting a strong belief in the cryptocurrency's value proposition.
Saylor started buying Bitcoin in 2020 as an inflation hedge and cash alternative. The biggest cryptocurrency has increased by nearly 600% since Saylor began purchasing it. Furthermore, the decision to buy Bitcoin has boosted MicroStrategy's stock price, which has risen by more than 1,000% since Saylor's decision.

Here's How Much BTC Michael Saylor's MicroStrategy Now Holds After Recent Buy

U_Today

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