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.
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.
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