MicroStrategy buys more bitcoin for $489 million in cash

Software company MicroStrategy announced Monday that it had bought an additional 13,005 bitcoins for around $489 million in cash.

The average purchase price per bitcoin was $37,617, said MicroStrategy. The price of bitcoin has fallen sharply over the past few days, and one bitcoin is currently priced at around $32,500.

MicroStrategy's new bitcoin purchase comes after the company completed its $500 million offering of secured notes last week. The offering was of secured notes due 2028 that bear an annual interest rate of 6.125%.

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Nasdaq-listed MicroStrategy starting buying bitcoin last August and since then has accumulated 105,085 bitcoin on its balance sheet. The aggregate purchase price of these bitcoins is around $2.75 billion at an average purchase price of about $26,080 per bitcoin. MacroStrategy LLC, a recently formed subsidiary of MicroStrategy, holds approximately 92,079 of the bitcoins.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.