MicroStrategy’s Bitcoin Blitz: 11,931 BTC Bagged at $786 Million, A Strategic Power Play

MicroStrategy’s Bitcoin Buying Spree: Snags 11,931 BTC for $786 Million, Reinforces Crypto Commitment

Crypto News- In a striking move that reinforces its dedication to the world of cryptocurrency, the American software and business intelligence firm MicroStrategy recently made headlines with its significant acquisition of Bitcoin (BTC).

Strategic Acquisition Details

Between April 27 and June 19, 2024, MicroStrategy procured a staggering 11,931 BTC at an average price of $65,883 per Bitcoin. This hefty investment amounted to a total of $786 million.

Funding the Purchase

MicroStrategy’s commitment to Bitcoin was made evident through the utilization of proceeds from a private offering of convertible senior notes and excess cash to finance this purchase. The firm concluded the private offering on June 18, 2024, raising a substantial $800 million.

Michael Saylor’s Insight

Founder and chairman of MicroStrategy, Michael Saylor, expressed his perspective on this significant acquisition.

“As of June 20, 2024, MicroStrategy holds 226,331 BTC acquired for approximately $8.33 billion, averaging at $36,798 per Bitcoin.”

Continuing Aggressive Bitcoin Strategy

MicroStrategy’s aggressive pursuit of Bitcoin continues to set it apart in the business landscape, showcasing a steadfast belief in the potential of cryptocurrency as a valuable asset. This latest move solidifies the company’s position as a leading player in the crypto sphere.

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