Microstrategy Expands Bitcoin Holdings

Microstrategy, Inc. (NASDAQ:MSTR) has expanded its bitcoin holdings with a new purchase of approximately 18,300 bitcoins, disclosed in a regulatory filing on September 13, 2024.

The acquisition, made between August 6 and September 12, 2024, totaled $1.11 billion in cash, with an average cost of $60,408 per bitcoin, inclusive of fees and expenses.

This latest acquisition increases MicroStrategy’s total bitcoin holdings to approximately 244,800 bitcoins, acquired at an aggregate price of $9.45 billion. The company’s average purchase price per bitcoin now stands at about $38,585, including fees and expenses.

The acquisition was funded through the sale of shares under an existing $2 billion at-the-market (ATM) stock issuance program. As part of this initiative, MicroStrategy sold 8,048,449 shares of its Class A common stock, generating $1.11 billion for the bitcoin purchase.

Led by CEO Michael Saylor, MicroStrategy remains a significant corporate advocate for Bitcoin, consistently increasing its holdings to integrate the cryptocurrency as a treasury asset. The company’s total investment in Bitcoin exceeds $9 billion, reflecting strong confidence in the long-term value of digital currencies.