MicroStrategy now holds over 1% of bitcoin's total supply after latest purchase
Quick Take
- MicroStrategy has purchased another 9,245 bitcoins for $623 million in cash, increasing its total bitcoin holdings to 214,246 BTC.
Michael Saylor's MicroStrategy acquired 9,245 more bitcoins for $623 million in cash, increasing its total bitcoin holdings to 214,246 BTC. With this latest purchase, the company now holds over 1% of the total bitcoin supply, comprising 21 million coins.
MicroStrategy's latest acquisition took place between Mar. 11 and Mar. 18 at an average price of $67,382 per bitcoin, including fees and expenses, the business software company said Tuesday.
The company bought the latest bitcoins using $592.3 million from the proceeds of a recent private offering of convertible senior notes, along with $30.7 million of excess cash.
RELATED INDICES
MicroStrategy’s aggregate purchase price of all bitcoins is around $7.53 billion, while its current market value is above $13.5 billion. The bitcoin price surged this year, peaking above $73,000 before retracting to the current level of around $63,000.
MicroStrategy’s average purchase price per bitcoin is around $35,160, including fees and expenses.
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.
© 2023 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.
