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MicroStrategy Acquires Additional 11,931 Bitcoin at a Cost of $786 Million

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MicroStrategy, a leading business intelligence and software company, has once again made a significant investment in Bitcoin, purchasing an additional 11,931 BTC at a total cost of $786 million. This move comes after the company completed a private offering of convertible senior notes, raising a total of $800 million in aggregate principal amount.

Since entering the Bitcoin market in August 2020 with an initial investment of $250 million, MicroStrategy has been steadily increasing its Bitcoin holdings. With this latest purchase, the company now holds a total of approximately 226,331 bitcoins, worth more than $14.9 billion at the current market value.

MicroStrategy’s CEO, Michael Saylor, has been a vocal advocate for Bitcoin, touting the cryptocurrency as a store of value and a hedge against inflation. The company’s treasury reserve strategy, which involves converting excess cash into Bitcoin, has proven to be a successful investment strategy.

As of now, MicroStrategy’s Bitcoin holdings have an average purchase price of approximately $36,798 per bitcoin, inclusive of fees and expenses. With the recent purchase of 11,931 BTC, the company continues to demonstrate its commitment to Bitcoin as a long-term investment.

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