Key Points
- MicroStrategy's Bitcoin holdings have reached 205,000 BTC, surpassing BlackRock's ETF.
- The company acquired an additional 12,000 Bitcoins for approximately $821.7 million.
MicroStrategy, under the leadership of Michael Saylor, has recently acquired approximately 12,000 more Bitcoins for a sum close to $821.7 million in cash. This acquisition has increased the company's total Bitcoin holdings to 205,000 BTC, a figure that outnumbers the holdings of BlackRock's largest spot Bitcoin exchange-traded fund, which holds 197,943 BTC.
Details of the Acquisition
The most recent acquisition by MicroStrategy took place between February 26 and March 10, 2024. The average price per Bitcoin during this period was approximately $68,477, inclusive of fees and expenses. The company funded this purchase using $781.1 million from a recent private offering of convertible senior notes, and an additional $40.6 million of surplus cash.
MicroStrategy's Bitcoin Investment
The total cost of all Bitcoin purchases made by MicroStrategy is estimated to be around $6.91 billion. However, the current market value of these holdings is over $14.7 billion. The price of Bitcoin has seen a significant increase this year, reaching a new all-time high of approximately $72,000. The average cost per Bitcoin for MicroStrategy, inclusive of fees and expenses, is around $33,706.
