Key Takeaways:
- MicroStrategy now holds 597,325 BTC valued at over $64.35 billion, purchased at an average price of $70,982.
- The firm recently acquired 4,980 BTC for $531 million, funded primarily through equity sales.
- With over $21.95 billion in unrealized profit, MicroStrategy continues to double down on its aggressive Bitcoin accumulation strategy.
MicroStrategy has once again demonstrated unwavering confidence in Bitcoin, making a substantial $531 million acquisition as BTC prices hover above $107,000. It is an additional step that makes the company the world’s largest corporate holder of Bitcoin.
Read More: $40B Bitcoin Bet: Why Michael Saylor’s Wild Plan May Push BTC to $1M Sooner Than You Think
MicroStrategy’s Bitcoin Treasury Hits 597,325 BTC
Michael Saylor made headlines when his business intelligence company, MicroStrategy, unveiled its treasury Bitcoin strategy. With this latest purchase, the company now owns 597,325 BTC – meaning that it holds an estimated value of $64.35 billion worth of Bitcoin at current market prices.
The mean buy price for all purchases is $70,982 per coin – a total of $21.95 billion in unrealized profits. Such sum is nothing short of jaw-dropping, and it puts MicroStrategy way ahead of any other public company with Bitcoin holdings.
Latest Acquisition: $531 Million for 4,980 BTC
MicroStrategy bought 4,980 BTC between mid – and end of June, the U.S. publicly traded firm revealed in a filing with the Securities and Exchange Commission (SEC). The $531.1 million purchase was made at an average price of $106,801 per BTC — signaling the company’s readiness to buy at a historically high levels for the digital asset.
This aggressive turning came as Bitcoin sentiment in the market was on the rise, with BTC seeing a recovery from ~$101,000 to well above $108,000 during the same period.
How MicroStrategy Funded the Massive Purchase
There were equity offerings totaling $531 million to finance the purchase on the part of MicroStrategy, largely in the form of the sale of common stocks amounting to about $519 million, as well as preferred shares amounting to approximately $59 million.
The funding approach is consistent with the five previous acquisitions the company has made, as they generally involved the company issuing new stock, not cashing in existing assets. It offers a continued expression of investor confidence in the long-term viability of Bitcoin as a digital store of value.
Shares of MicroStrategy (MSTR) ticked up about…
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