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MicroStrategy's $150M Bitcoin Acquisition: 5,445 BTC Purchased Since August

Sep 26, 2023 at 11:18 am

MicroStrategy, a well-known player in the software industry, has made a significant entry into the world of cryptocurrency. They recently disclosed their acquisition of almost $150 million worth of Bitcoin (BTC) spanning from August 1 to September 24. This move represents a substantial stride in the digital asset arena and affirms MicroStrategy's enduring belief in the long-term promise of cryptocurrency.

Over this specific time frame, MicroStrategy, in conjunction with its associated entities, effectively procured approximately 5,445 bitcoins, amounting to a noteworthy investment of roughly $147.3 million in cash. This acquisition was carried out with careful consideration, with the average cost per bitcoin, factoring in all related fees and expenses, coming in at about $27,053.

With this recent acquisition, MicroStrategy's overall bitcoin holdings have surged to an impressive 158,245 BTC. These holdings were amassed at a combined cost of approximately $4.68 billion, emphasizing the company's substantial commitment to the cryptocurrency market. The average cost per bitcoin in MicroStrategy's portfolio now stands at around $29,582.

To facilitate this substantial purchase, MicroStrategy chose to issue and sell a total of 403,362 MSTR shares. This financial maneuver aligns with the company's prior statements regarding their potential to raise up to $750 million through stock sales. The funds garnered from these sales are allocated for various purposes, including further bitcoin acquisitions.

MicroStrategy's ongoing endeavors to accumulate significant holdings of Bitcoin reflect a forward-thinking financial strategy. By diversifying their assets and embracing the potential of cryptocurrency, the company positions itself at the forefront of a swiftly evolving digital landscape.

MicroStrategy's recent acquisition of nearly $150 million worth of Bitcoin signifies a steadfast commitment to cryptocurrency as a pivotal component of their financial strategy. With a substantial bitcoin portfolio now valued at billions of dollars, the company stands as a prominent figure at the intersection of traditional finance and the burgeoning digital asset market. As the crypto landscape continues to evolve, MicroStrategy's strategic moves are poised to exert influence on the broader industry.

Read more: FASB Advocates Valuing Crypto Assets at Present Market Rates

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