MicroStrategy Now Holds Almost $7 Billion in Bitcoin

MicroStrategy will "continue to evaluate opportunities to raise additional capital" to buy Bitcoin, the firm confirmed.

MicroStrategy Now Holds Almost $7 Billion in Bitcoin

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During the third fiscal quarter of 2021, MicroStrategy added approximately 9,000 Bitcoin to its balance sheet.

MicroStrategy Reveals Total Bitcoin Holdings

MicroStrategy has revealed it added “nearly 9,000” Bitcoin to its reserves in its Q3 2021 financial report, raising its total holdings to 114,042.

At the current market price of about $61,000, the total value of MicroStrategy’s Bitcoin holdings have risen to roughly $7 billion.

Between July and September of 2021, the business intelligence company spent about $419.5 million on acquiring 8,957 BTC at an average unit price of $46,845, per its 8-K form filed with the U.S. Securities and Exchange Commission.

The firm also noted that that the original cost of acquiring all of its Bitcoin reserves was $3.16 billion, with an average unit price of roughly $27,713.

MicroStrategy’s CEO Michael Saylor stated in the report that his company would “continue to evaluate opportunities to raise additional capital” to purchase Bitcoin. MicroStrategy has taken a number of strategic steps to raise capital for Bitcoin over the last year, including selling $1.75 billion worth of convertible senior debt notes and announcing a $1 billion stock offering.

In a Thursday Twitter post, Saylor disclosed that he personally owns 17,732 Bitcoin, worth about $1.08 billion. He acquired them at an average price of $9,882 per unit.

Both Saylor and MicroStrategy have turned their focus to Bitcoin over the last year. MicroStrategy was one of the first publicly-traded companies to add Bitcoin to its balance sheet. From August through September 2020, it purchased $425 million worth of the asset and has continued to accumulate throughout 2021.

Since MicroStrategy started investing in Bitcoin, several other major U.S. companies like Tesla and Square have also followed its lead. Still, with almost $7 billion in its holdings, MicroStrategy is the largest corporate owner by some distance. 

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