MicroStrategy adds 9,245 BTC to its holdings

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.

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.