United

Bitcoin

cbBTC

<ul class="wp-block-list">
 <li>MicroStrategy acquired 18,300 BTC for $1.11 billion between August and September.</li>
 <li>Total Bitcoin holdings are now approximately 244,800 BTC, worth around $14.14 billion.</li>
</ul>
MicroStrategy Inc. (NASDAQ: MSTR), a leading business intelligence and software firm, has significantly bolstered its Bitcoin portfolio with the acquisition of approximately 18,300 BTC. Between August 6 and September 12, 2024, the company invested $1.11 billion at an average <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">price</a> of $60,408 per Bitcoin, including fees and expenses. The purchase was disclosed in a recent Form 8-K filing with the United States Securities and Exchange Commission (SEC).
Under the leadership of CEO Michael Saylor, MicroStrategy has consistently increased its Bitcoin <a href="https://x.com/saylor/status/1834564555944481227" rel="noopener noreferrer nofollow">holdings</a> since its initial purchase on August 11, 2020. The latest acquisition raises the firm’s total Bitcoin holdings to about 244,800 <a href="https://thenewscrypto.com/btc-holds-strong-above-58k-and-targeting-key-60k-resistance/" rel="noopener noreferrer nofollow">BTC</a>, valued at approximately $14.14 billion. Since August 2020, MicroStrategy’s average purchase price for Bitcoin stands at $38,585 per BTC, representing a cumulative investment of around $9.45 billion.
Moreover, the funding for this recent Bitcoin buy came from a share issuance, with MicroStrategy selling 8,048,449 shares under a sales agreement completed on August 1. The $1.11 billion raised from this sale was directly allocated to expanding the firm’s Bitcoin reserves.
<h3 class="wp-block-heading" id="h-microstrategy-s-bold-move">MicroStrategy’s Bold Move</h3>
MicroStrategy’s aggressive Bitcoin <a href="https://thenewscrypto.com/microstrategy-etf-mstx-breaks-the-volatility-barrier/" rel="noopener noreferrer nofollow">strategy</a> has drawn both acclaim and scrutiny. As of August 10, 2024, the company’s Bitcoin holdings were valued at $13.77 billion, yielding unrealized profits of $5.39 billion. The firm’s stock has surged by approximately 1,000% since August 2020, far outpacing the S&amp;P 500 index.
The move underscores MicroStrategy’s commitment to its Bitcoin-centric strategy amidst fluctuating market conditions and investor caution regarding traditional equities. With valuations soaring in 2024, investors are increasingly exploring high-potential opportunities in the cryptocurrency space.
Highlighted News Of The Day
<a href="https://thenewscrypto.com/coinbase-cbbtc-nears-100m-market-cap-since-its-launch/" rel="noopener noreferrer nofollow">Coinbase cbBTC Nears $100M Market Cap Since Its Launch</a>

MicroStrategy Expands Bitcoin Holdings with $1.11 Billion Purchase

Table of Contents

TheNewsCrypto

Other articles published on Sep 13, 2024

Weekly Article Recap: 8/26-8/30

Donald Trump Set to Launch World Liberty Financial

Sky Protocol’s Recent Proposal Could Impact $200M Loans Backed by Wrapped Bitcoin: Report

Musk X Empire: September 13 Daily Combo, Riddle, and Rebus

Ether.Fi Partners with Scroll to Launch Crypto-Backed Visa Credit Card

Dogs Price Prediction As Coinbase Announces DOGS Perpetual Futures And This Meme Coin Staking Pro...

Join our free newsletter for daily crypto updates!