Company’s Bitcoin Holdings Rises to Nearly 160K Bitcoins
The acquisition was announced on September 25 by Michael Saylor, the executive chairman and co-founder of MicroStrategy, through a post on X (formerly Twitter). The latest batch of Bitcoins was purchased at an average cost of $27,053 per BTC, amounting to a cash expenditure of approximately $147.3 million.
MicroStrategy has acquired an additional 5,445 BTC for ~$147.3 million at an average price of $27,053 per #bitcoin. As of 9/24/23 @MicroStrategy hodls 158,245 $BTC acquired for ~$4.68 billion at an average price of $29,582 per bitcoin. $MSTR https://t.co/GbJtUoQfXv
— Michael Saylor⚡️ (@saylor) September 25, 2023
A Form 8-K filing with the United States Securities and Exchange Commission (SEC) indicates that MicroStrategy, together with its subsidiaries, procured the bitcoins between August 1, 2023, and September 24, 2023. Following this acquisition, the company and its subsidiaries now hold an aggregate of nearly 158,245 bitcoins, which were purchased at an average cost of $29,582 per BTC, inclusive of fees and charges. This cumulative expenditure sum for MicroStrategy’s total Bitcoin holdings now stands at about $4.68 billion.
Bitcoin Price Meanders Amid Latest Acquisition
The latest Bitcoin investment from MicroStrategy comes amidst a period of relative stability for Bitcoin, with its trading value hovering around $26,000 for the past few weeks. Bitcoin’s value underwent a fleeting surge up to $28,000 at the end of August, but subsequently slipped to a low of about $25,000 on September 11. At the time of reporting, Bitcoin’s trading value stands at $26,081, marking a slight decrease of 1.9% over the previous 24 hours. Compared to its performance last week, the cryptocurrency has dipped by approximately 4%.
MicroStrategy’s Bitcoin Investment Timeline
The latest Bitcoin acquisition by MicroStrategy is indicative of the firm’s continued bullish stance on the cryptocurrency. The company had previously invested a significant sum of $347 million in Bitcoin back in June 2023, purchasing 12,333 BTC at an average cost of $29,668 per BTC.
For the first quarter of 2023, MicroStrategy announced its first profitable quarter since 2020 due to a one-off income tax benefit. The firm managed to maintain this positive trend into the next quarter, reporting a net income of $22.2 million in early August.
Key Points Summary
What is the scale of MicroStrategy’s latest Bitcoin acquisition?
MicroStrategy has purchased an additional 5,445 bitcoins at an average price of $27,053 per bitcoin, amounting to an approximate investment of $147.3 million.
How does this impact MicroStrategy’s total Bitcoin holdings?
With this acquisition, MicroStrategy’s total Bitcoin holdings now stand at approximately 158,245 bitcoins, acquired at an average cost of $29,582 per BTC. The aggregate purchase price for these holdings is roughly $4.68 billion.
What is MicroStrategy’s stance on Bitcoin investments?
MicroStrategy has maintained a bullish stance on Bitcoin investments, evident from their consistent acquisitions, including their notable purchase of 12,333 bitcoins for $347 million in June 2023.
