Bitcoin

MicroStrategy has <a href="https://x.com/saylor/status/1834564555944481227" rel="noopener noreferrer nofollow">increased</a> its Bitcoin holdings again with 18,300 bitcoins for $1.11 billion. The new development brings its total Bitcoin holdings to around 244,800 bitcoins. MicroStrategy spent a total of $9.45 billion on these acquisitions. The official documents reveal that the purchase was funded through a stock sale agreement with several financial entities.Formerly a business software firm but now calling itself a bitcoin development company, MicroStrategy continues to show confidence in Bitcoin despite the market’s volatility. The company now stands as a major institutional player in the crypto space.MicroStrategy’s Bitcoin EngagementsIn June 2024, MicroStrategy <a href="https://cryptotale.org/microstrategys-double-move-btc-purchase-and-800-convertable-note-offerings/" rel="noopener noreferrer nofollow">announced</a> a $800 million note offering with the purpose of buying more Bitcoin and supporting other business needs. The convertible notes will mature by 2032 and are meant for institutional buyers. Executive Chairman Michael Saylor announced plans to redeem $650 million of 2025 convertible notes. His vision emphasizes MicroStrategy to increase its Bitcoin reserves.On August 2, 2024, MicroStrategy <a href="https://cryptotale.org/microstrategy-announces-strategic-2b-bitcoin-expansion/" rel="noopener noreferrer nofollow">announced</a> another major move. The company stated it would raise $2 billion to expand its Bitcoin holdings. Despite facing a $102.6 million loss in Q2, MicroStrategy held 226,500 bitcoins. These bitcoins were worth $14.4 billion at the time. The company had also undergone a 10-for-1 stock split to improve stock accessibility.<a href="https://cryptotale.org/microstrategy-adds-18300-btc-total-holdings-hit-244800/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

MicroStrategy Adds 18,300 BTC, Total Holdings Hit 244,800

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