The business intelligence company MicroStrategy on Friday said it has acquired 18,300 BTC worth $1.11 billion, according to a filing with the US SEC. The company’s net BTC holding has increased to 244,800 BTC, revealed Michael Saylor, executive chairman of the firm. This is one of the largest Bitcoin purchases by the firm. MSTR stock price rises 0.65% in premarket.
MicroStrategy Acquires Another 18,300 BTC
In a post on the X platform on September 13, MicroStrategy’s Executive Chairman Michael Saylor revealed that the company has further increased its BTC holdings. The largest corporate holder of Bitcoin purchased 18,300 BTC worth $1.11 billion, as per an SEC filing.
With the latest purchase, the company has increased its total BTC holdings to 244,800 BTC valued at $9.45 billion, which accounts for $38,585 per BTC. The firm has achieved a BTC Yield of 4.4% QTD and 17.0% YTD.
MicroStrategy has acquired 18,300 BTC for ~$1.11 billion at ~$60,408 per #bitcoin and has achieved BTC Yield of 4.4% QTD and 17.0% YTD. As of 9/12/2024, we hodl 244,800 $BTC acquired for ~$9.45 billion at ~$38,585 per bitcoin. $MSTR https://t.co/WBBRSKxA1U
— Michael Saylor
(@saylor) September 13, 2024
In June, MicroStrategy acquired 11,931 bitcoin from a $800 million private offering of convertible senior notes. The company said it intended to use the proceeds primarily to purchase additional Bitcoin, aligning with its ongoing strategy of leveraging debt to expand its cryptocurrency holdings. Meanwhile, the convertible senior notes are unsecured and senior, meaning they rank higher in claim priority over other debt but lack collateral backing.
MSTR stock price is volatile during the premarket hours after MicroStrategy revealed the BTC purchase. MSTR stock price is up just 0.21% at $131.05 on Friday.
Michael Saylor Fails to Move Bitcoin Price
The traders didn’t respond immediately to MicroStrategy’s Bitcoin purchase. At press time, Bitcoin price action remained sideways. BTC price is currently trading at $57,836, with a 24-hour low and high of $57,354 and $58,534, respectively. Furthermore, the trading volume has decreased by 15% in the last 24 hours.
The post Breaking: MicroStrategy Buys $1.11 Billion In Bitcoin, MSTR Stock Jumps appeared first on CoinGape.
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