Microstrategy, the Nasdaq-listed software intelligence firm, announced that it has acquired an additional 5,445 bitcoins, increasing its total holdings to 158,245 BTC. The company made the acquisition between August 1 and September 24, according to a filing with the U.S. Securities and Exchange Commission (SEC). This move demonstrates Microstrategy’s commitment to Bitcoin as a long-term investment strategy.
Michael Saylor, the founder and chairman of Microstrategy, shared the news on social media, stating that the company acquired the additional bitcoins for approximately $147.3 million at an average price of $27,053 per bitcoin. As of September 24, Microstrategy now holds approximately $4.68 billion worth of BTC, acquired at an average price of $29,582 per bitcoin.
In addition to the bitcoin acquisition, Microstrategy also announced that it had issued and sold 403,362 shares of its Class A common stock, generating approximately $145.3 million in net proceeds. This follows the sales agreement the company entered into on August 1, with the intention of using the funds for general corporate purposes, including the acquisition of bitcoin.
Overall, Microstrategy’s continued accumulation of bitcoin and its significant investment in the cryptocurrency highlights its bullish stance on the future potential of Bitcoin. This move also underscores the increasing institutional adoption of cryptocurrency as a store of value and an alternative asset class.
#Microstrategy #Bitcoin #BTC #cryptocurrency #investment
SEO keywords: Microstrategy, Bitcoin acquisition, cryptocurrency investment, institutional adoption, SEC filing
Image: https://weeklyfinancenews.online/wp-content/uploads/2023/08/RANKING-1.png
Comments are closed.