MicroStrategy continues to solidify its position as a Bitcoin investor. It does this with the recent purchase of 5,445 BTC for approximately $147.3 million in cash. The acquisition took place between August 1 and September 24, with an average price of roughly $27,053 per Bitcoin. This new addition brings MicroStrategy's total Bitcoin holdings to an impressive 158,245 BTC. These have been acquired at an average purchase price of around $29,582 per Bitcoin, including fees and expenses.
This move reaffirms MicroStrategy's confidence in the long-term potential of Bitcoin. It's also worth noting that the company had previously acquired 12,333 BTC for $347 million in June 2023 at an average purchase price of $29,668 per coin.
The software developer funded this latest Bitcoin purchase by issuing and selling a total of 403,362 MSTR shares. Notably, in August, MicroStrategy had signaled its intention to raise up to $750 million by selling more stock, with plans to allocate some of the proceeds to further Bitcoin acquisitions.
This acquisition comes at a time when Bitcoin's price has been relatively stable, hovering around $26,000 after touching $28,000 in late August.
MicroStrategy's continuous investment in Bitcoin aligns with its belief in the cryptocurrency's potential as a long-term store of value. The company's sustained profitability and financial confidence reflect its commitment to this digital asset.