Key Points
- MicroStrategy has increased its Bitcoin holdings to 214,246 BTC, representing over 1% of Bitcoin's total supply.
- The company's total Bitcoin investment is approximately $7.53 billion, with a current market value exceeding $13.5 billion.
MicroStrategy, under the leadership of Michael Saylor, has expanded its Bitcoin portfolio with an additional 9,245 coins. The purchase, which cost $623 million in cash, brings the company's total Bitcoin holdings to 214,246 BTC. This means that MicroStrategy now owns more than 1% of Bitcoin's entire supply, which is capped at 21 million coins.
Details of the Acquisition
The latest acquisition occurred between March 11 and March 18. The average cost per Bitcoin during this period was $67,382, factoring in fees and expenses. The funds used for this purchase included $592.3 million from a recent private offering of convertible senior notes and an additional $30.7 million of excess cash.
MicroStrategy's Bitcoin Investment
The total amount spent by MicroStrategy on its Bitcoin purchases stands at around $7.53 billion. However, due to the surge in the price of Bitcoin, the current market value of these holdings is estimated to be over $13.5 billion. Bitcoin's price has seen significant growth this year, at one point reaching over $73,000, although it has since retracted to around $63,000. The average cost per Bitcoin for MicroStrategy, taking into account fees and expenses, is approximately $35,160.
