MicroStrategy adds 7,420 BTC to its stash, reveals $1 billion in cash for another buying round

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MicroStrategy has acquired 7,420 Bitcoin (BTC) for approximately $458.2 million, at an average price of $61,750 per BTC, as revealed on Sept. 20 by the company CEO, Michael Saylor.

The tech company now boasts 252,220 BTC in its treasury, with an average price of $39,266 per BTC, totaling $9.9 billion invested. Notably, the company’s unrealized profit is nearly $6 billion considering Bitcoin’s price of $62,871.62 at the time of writing.

The company reported a BTC yield of 5.1% quarter-to-date and 17.8% year-to-date as of September 19, 2024. MicroStrategy added more ground as the publicly-listed company with the largest Bitcoin holding, now with a 226,275 BTC lead over Marathon Digital’s 25,945 BTC stash.

Additionally, this movement comes one week after Saylor revealed a massive 18,300 BTC acquisition on Sept. 13, with an average price of $60,408, totaling approximately $1.11 billion.

This is a continuation of MicroStrategy’s acquisition spree registered in Q2 when the company added 12,222 BTC to its treasury by spending over $805 million.

In Q3, MicroStrategy added 25,720 BTC to its holdings.

Preparing for a large gulp

Yet, this might not be the last Bitcoin acquisition by MicroStrategy this quarter. The company announced the emission of $700 million through convertible senior notes to buy more Bitcoin on Sept. 16 but revealed today that the offering was ramped up to over $1 billion.

It isn’t clear yet if MicroStrategy will use the whole new lump of cash to acquire Bitcoin in one big acquisition, such as the one registered on Sept. 13. Nevertheless, the firm’s statement makes it clear that the money will be used to buy more Bitcoin.

Notably, this will make the US dollar-denominated invested amount in Bitcoin by MicroStrategy inch closer to $11 billion, while also surpassing the 270,000 BTC threshold.

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This article first appeared at Crypto Briefing