🌎 MicroStrategy Buys 7,420 BTC, Total Holdings Reach 252,220 BTC

MicroStrategy has made another significant move in the cryptocurrency market by acquiring an additional 7,420 BTC. On September 20, the company announced the completion of its $1 billion convertible senior notes offering. The proceeds from this offering were allocated for purchasing more Bitcoin.

Michael Saylor, the founder and chairman of MicroStrategy, later confirmed that the firm had bought Bitcoin worth over $458 million. According to the details filed with the U.S. Securities and Exchange Commission on September 20, 2024, MicroStrategy purchased the additional BTC at an average price of $61,750 per BTC.

MicroStrategy, an artificial intelligence-powered cloud analytics firm and the largest public holder of Bitcoin, reported achieving a total BTC yield of 5.1% quarter-to-date and 17.8% year-to-date. This latest acquisition brings the company’s total Bitcoin holdings to 252,220 BTC, up from 244,800 BTC.

Since its first Bitcoin purchase in August 2020, MicroStrategy, under the leadership of Michael Saylor, has invested approximately $9.9 billion to add BTC to its balance sheet. This includes the recent addition of 18,300 BTC for $1 billion. These assets were acquired at an average price of $39,266 per BTC, resulting in an unrealized profit of over $5.9 billion.

In August 2024, Saylor revealed that he personally holds $1 billion in Bitcoin, demonstrating his strong belief in the cryptocurrency’s potential.