MicroStrategy buys additional 3,000 bitcoin, taking total holdings to 193,000 BTC
Quick Take
- MicroStrategy has purchased another 3,000 BTC for about $155 million at an average price of $51,813 per Bitcoin.
- The latest acquisition follows the 850 BTC MicroStrategy bought last month, taking its total holdings to 193,000 BTC.
MicroStrategy has acquired an additional 3,000 BTC for about $155 million at an average price of $51,813 per Bitcoin between Feb. 15 and Feb. 25, according to a filing on Monday.
The company now holds 193,000 BTC — worth approximately $9.9 billion — following the 850 BTC ($37.2 million) it bought last month. MicroStrategy’s total holdings were bought at an average price of $31,544 per Bitcoin at a cost of around $6.1 billion, according to the company's founder and executive chairman Michael Saylor.
The purchases were made using the proceeds from the issuance and sale of MicroStrategy shares. MicroStrategy stated in the filing it had issued and sold an aggregate of 1,272,077 shares under a prior sales agreement for approximately $750 million. About $137.8 million of such gross proceeds were received from shares issued and sold since Jan. 1, it wrote.
In November, MicroStrategy said it may raise up to $750 million through the sale of new Class A common stock shares. By the end of December, the company had sold 1 million shares for $610 million.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.