Microstrategy, Inc. (NASDAQ:) has expanded its already sizable bitcoin holdings with a new purchase of approximately 18,300 bitcoins, the company disclosed in a regulatory filing on September 13, 2024.
The acquisition, which took place between August 6 and September 12, 2024, amounted to $1.11 billion in cash, with an average price of $60,408 per bitcoin, including fees and expenses.
This latest acquisition brings MicroStrategy's total bitcoin holdings to approximately 244,800 bitcoins, acquired at an aggregate purchase price of $9.45 billion.
The company's average purchase price per bitcoin is now about $38,585, including fees and expenses.
The company said the purchase was funded through the sale of shares under an existing ATM program for $2 billion.
As part of this program, MicroStrategy sold 8,048,449 shares of its Class A common stock, generating the $1.11 billion used to acquire Bitcoin.
MicroStrategy, led by CEO Michael Saylor, has been one of the most prominent corporate proponents of Bitcoin, continually increasing its holdings as part of its broader strategy to incorporate the cryptocurrency as a treasury asset.
The firm's significant investment in bitcoin, now worth more than $9 billion, reflects its confidence in the long-term value of the digital currency.
