MicroStrategy Buys 18,300 Bitcoin, Pushing Total Holdings to 244,800 BTC

MicroStrategy, the software firm led by Michael Saylor, has added another 18,300 Bitcoin to its growing portfolio between the 6th of August and the 12th September. In a filing with the U.S. Securities and Exchange Commission (SEC), the company revealed that it spent $1.11 billion on the purchase, paying an average of $60,408 per Bitcoin, including fees.

This latest buy brings MicroStrategy’s total Bitcoin holdings to approximately 244,800 BTC, now valued at around $14.14 billion. Since making its first move into Bitcoin in August 2020, the company has steadily increased its exposure, with its total investment now sitting at $9.45 billion at an average purchase price of $38,585 per coin.

Where the Funds Came From?

The capital for this recent purchase was raised through the sale of company shares. According to the SEC filing, MicroStrategy sold 8,048,449 shares, raising $1.11 billion by September 12. This cash was then used to buy more Bitcoin, in line with the company’s strategy of increasing its crypto holdings.

MicroStrategy’s aggressive Bitcoin buying has been both praised and criticized by financial experts, but the company continues to stand firm in its long-term belief in Bitcoin. With this latest purchase, it remains one of the largest corporate holders of the cryptocurrency and shows no signs of stepping back.

MicroStrategy Links: Twitter Website Founder/CEO