MicroStrategy Adds 7,420 BTC to Its Stock, Reveals $1 Billion in Cash for Another Buying Round

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MicroStrategy acquired 7,420 Bitcoins (BTC) for approximately $458.2 million, at an average price of $61,750 per BTC, as disclosed on September 20 by the company’s 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, given the Bitcoin price of $62,871.62 at the time of writing.

The company reported a BTC return of 5.1% quarterly and 17.8% year-to-date as of September 19, 2024. MicroStrategy has added more ground as the publicly traded company with the largest Bitcoin holding, now with 226,275 BTC. leads over Marathon Digital’s 25,945 BTC stock.

Additionally, this move comes a week after Saylor disclosed a massive purchase of 18,300 BTC on September 13th at an average price of $60,408, totaling approximately $1.11 billion.

This is a continuation of MicroStrategy’s buying spree in Q2, when the company added 12,222 BTC to its treasury, spending more than $805 million.

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

Preparing for a big sip

However, this may not be MicroStrategy’s last Bitcoin purchase this quarter. The company announced the issuance of $700 million in convertible senior notes to buy more Bitcoin on September 16, but revealed today that the offering has increased to more than $1 billion.

It is not yet clear whether MicroStrategy will use the entire new amount of cash to purchase Bitcoin in a large purchase such as the one recorded on September 13. However, the company’s statement makes it clear that the money will be used for the purchase. more Bitcoins.

Notably, this will bring the amount invested in Bitcoin by MicroStrategy in US dollars close to $11 billion, also surpassing the 270,000 BTC mark.

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