MicroStrategy adds 9,245 BTC to its holdings
The company expanded its Bitcoin stash through debt offerings and excess cash and now holds almost $14 billion in BTC.
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MicroStrategy invested almost $623 million to acquire 9,245 Bitcoins (BTC) at an average price of $67,382, the company revealed in a Mar. 19 announcement. The company founded by Michael Saylor now holds 214,246 BTC at an average price of $35,160 per Bitcoin.
This latest acquisition used the proceeds of a $500 million debt offering, which Crypto Briefing reported on Mar. 13, and excess cash. That’s the second buying movement in a row made by the company that used funding from debt offerings to allocate capital to BTC.
MicroStrategy’s Bitcoin holdings are worth more than $13,8 billion at the time of writing, with over $6 billion in unrealized profit. The company has made 13 Bitcoin acquisitions since Mar. 23, 2023, resulting in 72,745 BTC bought in this period, representing 34% of its Bitcoin stash.
Moreover, MicroStrategy holds more BTC than 8 out of 10 spot Bitcoin exchange-traded funds traded in the US. BlackRock’s IBIT stays ahead by almost 10,000 BTC, with 224,018 BTC under its management, and Grayscale’s stays way ahead with 373,714 BTC.
