MicroStrategy Acquires 11,931 Bitcoin For $786M, Holds 226,331 BTC

Published: Jun 20, 2024
Written By:
Vignesh Karunanidhi
Milk Road Writer

MicroStrategy has made another Bitcoin purchase amidst the slumping market conditions. According to a tweet by the company’s former CEO, Michael Saylor, MicroStrategy has acquired 11,931 BTC for approximately $786 million.

As per the details, the company used proceeds from convertible notes and excess cash for the purchase. The average purchase price for this latest stash stands at around $65,883 per Bitcoin.

Key points:

  • MicroStrategy acquires an additional 11,931 BTC for approximately $786 million.
  • The average purchase price for this latest acquisition is around $65,883 per bitcoin.
  • As of now, MicroStrategy holds a total of 226,331 BTC.
  • The BTC stash was acquired for roughly $8.33 billion at an average price of $36,798 per Bitcoin.

Also read: India Slaps Binance With $2.2 Million Fine Over AML Violations

MicroStrategy Now Holds 226,331 Bitcoin

This latest purchase further strengthens MicroStrategy’s position as one of the largest corporate investors in Bitcoin.

As of today (June 20, 2024), the firm holds 226,331 BTC, acquired for a total of approximately $8.33 billion. The average purchase price across all of MicroStrategy’s Bitcoin holdings now stands at $36,798 per coin.

The fresh capital raise and subsequent Bitcoin accumulation represent MicroStrategy’s latest corporate bet on BTC under the leadership of founder and former CEO Michael Saylor. 

Also checkout: CertiK Claims Responsibility For Identifying Kraken’s Critical Bug, Sparking Controversy

The company had also made an announcement that they were planning to raise $500 million, with which the company plans to buy more BTC.

The tweet by Saylor comes at a time when Bitcoin has plunged below $66,000 in the last 24 hours. BTC is showing signs of muted performance alongside the whole crypto market.

Vignesh Karunanidhi

Vignesh has been a seasoned professional in the crypto space since 2017. He has been writing for over 6 years and specializes in writing and editing various types of crypto content, including news articles, long-form pieces, and blog posts, all focused on sharing the beauty of blockchain and crypto.

Vignesh Karunanidhi
Milk Road Writer
Vignesh has been a seasoned professional in the crypto space since 2017. He has been writing for over 6 years and specializes in writing and editing various types of crypto content, including news articles, long-form pieces, and blog posts, all focused on sharing the beauty of blockchain and crypto.