Business intelligence firm MicroStrategy, renowned for its Bitcoin holdings, has once again expanded its cryptocurrency portfolio by purchasing an additional 18,300 BTC tokens.
MicroStrategy Chairman Michael Saylor disclosed the latest acquisition in a post on X a few hours ago. As highlighted in the associated SEC filing, the acquisition took place between August 6 and September 12.
Buying at an average price of $60,408 per BTC, MicroStrategy injected fresh capital of $1.11 billion into the Bitcoin market. This move comes just weeks after the firm disclosed its intention to raise $2 billion from its shares, part of which would go toward Bitcoin purchases.
Indeed, as the SEC filing shows, MicroStrategy’s recent Bitcoin acquisition was funded by the proceeds from a stock sale, which was facilitated by an agreement in August to offer up to $2 billion of its shares through sales agents.
As of September 12, the company had sold a total of 8,048,449 shares, generating $1.11 billion in revenue, which was used to purchase the additional 18,300 BTC.
MicroStrategy Now Holds $14 Billion in Bitcoin
Following this latest buying spree, MicroStrategy commands a Bitcoin war chest of 244,800 BTC tokens with a current value of around $14 billion. Notably, the company’s entire Bitcoin holdings were acquired at an average price of $38,585 per coin, with a total investment of around $9.45 billion.
This latest Bitcoin purchase continues MicroStrategy’s aggressive Bitcoin acquisition strategy. In August, the company acquired $11.4 million in Bitcoin, and in June, it purchased $786 million worth. In fact, the firm has bought Bitcoin nearly every month since September 2020.
It’s worth mentioning that MicroStrategy is currently at a loss on all recent Bitcoin acquisitions from March, as the current value of BTC is below its acquisition price. Interestingly, the ongoing losses have not deterred the firm from adding more tokens.
Michael Saylor noted that this latest purchase has contributed to the company’s strong Bitcoin performance, with a quarterly yield of 4.4% and a year-to-date yield of 17.0%.
Furthermore, MicroStrategy’s share price has seen a slight uptick amid the significant Bitcoin purchase announcement. It has risen by 1.25% over the past day to trade at $132, as reported by TradingView.
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