Outside Source
MicroStrategy has purchased more Bitcoin, with the company announcing it had acquired an additional 7,420 BTC.
On Sept. 20, MicroStrategy announced it had completed its $1 billion convertible senior notes offering. The company planned to use the proceeds to buy more Bitcoin (BTC).
Hours later, Michael Saylor, the company’s founder and chairman, revealed that the firm purchased Bitcoin worth over $458 million. According to details filed with the U.S. Securities and Exchange Commission on September 20, 2024, MicroStrategy acquired the additional BTC at the average price of $61,750 per BTC.
MicroStrategy, an artificial intelligence-powered cloud analytics firm that’s currently the largest public holder of Bitcoin, also announced it achieved a total BTC yield of 5.1% quarter-to-date and 17.8% year-to-date.
MicroStrategy at $5.9 unrealized Bitcoin profit
The latest purchase brings the company’s total holdings to 252,220 BTC, up from 244,800 BTC.
Since it first acquired Bitcoin in August 2020, the Michael Saylor-led company has spent 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 have been acquired at the average price of $39,266 per BTC, meaning the company’s unrealized profit stands at over $5.9 billion. In August 2024, Saylor disclosed he has $1 billion in personal BTC holdings.
This article first appeared at crypto.news
