MicroStrategy Buys Another 12,333 Bitcoin, Increasing Its Total Holdings to 152,333

MicroStrategy, a software analytics firm, announced on June 28 that it had purchased another 12,333 Bitcoin (BTC). The purchase was worth $347 million at the time of the announcement, and it brings MicroStrategy’s total BTC holdings to 152,333.

The average purchase price for the 12,333 BTC was $29,668. The coins were acquired between April 27 and June 27.

MicroStrategy financed the purchase of the 12,333 BTC with a combination of cash and stock. The company issued and sold an aggregate of 1,079,170 shares under an agreement with Cowen and Company, LLC and Canaccord Genuity LLC. The total net proceeds from the sale of the shares was $337 million.

MicroStrategy has been a vocal advocate of Bitcoin, and it has been one of the most active corporate buyers of the cryptocurrency. The company has been accumulating BTC since August 2020, and it has now spent over $4.5 billion on the asset.

MicroStrategy’s CEO, Michael Saylor, has been a particularly outspoken proponent of Bitcoin. He has repeatedly argued that Bitcoin is a superior store of value to fiat currency, and he has said that he believes that the cryptocurrency will eventually become the world’s reserve currency.

MicroStrategy’s continued purchases of Bitcoin have been met with mixed reactions. Some investors have praised the company for its conviction, while others have criticized it for its risk-taking.

Only time will tell whether MicroStrategy’s bet on Bitcoin will pay off. However, the company’s latest purchase shows that it remains committed to its long-term strategy of accumulating BTC.

Here are some additional details:

The purchase of the 12,333 BTC brings MicroStrategy’s total BTC holdings to 152,333.

The average purchase price for the 12,333 BTC was $29,668.

MicroStrategy financed the purchase of the 12,333 BTC with a combination of cash and stock.

The company issued and sold an aggregate of 1,079,170 shares under an agreement with Cowen and Company, LLC and Canaccord Genuity LLC.

The total net proceeds from the sale of the shares was $337 million.

MicroStrategy has been a vocal advocate of Bitcoin, and it has been one of the most active corporate buyers of the cryptocurrency.

The company has been accumulating BTC since August 2020, and it has now spent over $4.5 billion on the asset.

MicroStrategy’s CEO, Michael Saylor, has been a particularly outspoken proponent of Bitcoin.

He has repeatedly argued that Bitcoin is a superior store of value to fiat currency, and he has said that he believes that the cryptocurrency will eventually become the world’s reserve currency.

MicroStrategy’s continued purchases of Bitcoin have been met with mixed reactions. Some investors have praised the company for its conviction, while others have criticized it for its risk-taking.

The company’s latest purchase shows that it remains committed to its long-term strategy of accumulating BTC.