The acquisition, which took place between August 6 and September 12, 2024, amounted to $1.11 billion in cash, with an average price of $60,408 per bitcoin, including fees and expenses.
This latest acquisition boosts MicroStrategy’s total bitcoin holdings to roughly 244,800 bitcoins, acquired at an aggregate purchase price of $9.45 billion.
The company’s average purchase price per bitcoin now stands at approximately $38,585, inclusive of fees and expenses.
The company said the purchase was funded through the sale of shares under an existing $2 billion at-the-market (ATM) stock issuance program.
As part of this program, MicroStrategy sold 8,048,449 shares of its Class A common stock, generating the $1.11 billion used for the Bitcoin acquisition.
MicroStrategy, led by CEO Michael Saylor, has been one of the most prominent corporate proponents of Bitcoin, continually adding to its holdings as part of its broader strategy to incorporate the cryptocurrency as a treasury asset.
The company’s substantial bitcoin investment, which now exceeds $9 billion, reflects its confidence in the long-term value of the digital currency.
Source: Cryptocurrency - investing.com
