MicroStrategy Expands Bitcoin Holdings with $1.11 Billion Purchase

MicroStrategy, Inc. (NASDAQ:MSTR) has made a significant addition to its Bitcoin holdings, purchasing approximately 18,300 more Bitcoins, according to a regulatory filing on September 13, 2024.

The company made these purchases between August 6 and September 12, 2024, at a total cost of $1.11 billion in cash, with an average price of $60,408 per Bitcoin, including fees and expenses.

This latest purchase brings MicroStrategy’s total Bitcoin holdings to approximately 244,800 Bitcoins, with a cumulative purchase value of $9.45 billion.

The company’s average purchase price for Bitcoin is approximately $38,585, including fees and expenses.

MicroStrategy funded the acquisition through a $2 billion at-the-market (ATM) equity offering, selling 8,048,449 shares of Class A common stock to raise $1.11 billion for the purchase of Bitcoin.

As a prominent corporate supporter of Bitcoin, MicroStrategy, led by CEO Michael Saylor, has consistently increased its holdings as part of a broader strategy to leverage the cryptocurrency as a financial asset.

With a massive Bitcoin investment now worth over $9 billion, MicroStrategy demonstrates its confidence in the long-term value of the digital currency.