MicroStrategy Acquires Additional BTC
MicroStrategy, a business intelligence and software company, has recently made another significant acquisition in the world of cryptocurrency. The company has announced in a report the purchase of an additional 12,333 BTC for approximately $347.0 million. This acquisition brings their total Bitcoin holdings to an impressive 152,333 BTC.
The average price at which MicroStrategy acquired these new bitcoins is $28,136 per bitcoin. This demonstrates their continued interest and confidence in the long-term potential of digital currencies, particularly Bitcoin.
When considering its entire Bitcoin portfolio, MicroStrategy has accumulated these assets at an average price of $29,668 per Bitcoin. This implies that their total investment in Bitcoin amounts to approximately $4.52 billion. The company’s consistent and strategic approach to acquiring Bitcoin reinforces its belief in its value as a store of value and a potential hedge against inflation.
MicroStrategy’s significant holdings of Bitcoin demonstrate their confidence in the digital asset and position them as one of the largest institutional holders of the cryptocurrency. Their continued accumulation of Bitcoin showcases their commitment to diversifying their balance sheet and capitalizing on the opportunities presented by the evolving cryptocurrency landscape.
MicroStrategy’s ongoing engagement with Bitcoin reflects the growing interest in and adoption of digital assets. Their actions serve as a notable example of a company embracing the potential of cryptocurrencies as a strategic asset class, influencing others to follow suit.
MicroStrategy previously disclosed on May 1, 2023, that it had entered into a Sales Agreement with Cowen and Company, LLC and Canaccord Genuity LLC as sales agents, under which MicroStrategy may issue and sell shares of its class A common stock, par value $0.001 per share with an aggregate offering price of up to $625.0 million through the Agents from time to time.
MicroStrategy reported on June 28, 2023, that as of June 27, 2023, it has issued and sold an aggregate of 1,079,170 Shares under the Sales Agreement for total net proceeds to MicroStrategy (minus sales commissions and expenses) of approximately $333.7 million.
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Disclaimer: The information provided here is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any investment decisions.
Caleb is a technical writer at AlteBlock with over 2 years of experience in covering DeFi-related content such as crypto news, exchange reviews, and guides. He is also a Civil engineering graduate who can be found on-site when not writing an article.
