Microstrategy Buys Nearly $800 Million Worth Of Bitcoin, Shares Up

  • Posted on June 20, 2024
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  • By FC Team
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MicroStrategy (MSTR) has increased its Bitcoin holdings by purchasing an additional 11,931 coins for $786 million, at an average price of $65,883 per Bitcoin, the company’s regulatory filing with the Securities and Exchange Commission (SEC) showed on Thursday.According to Michael Saylor, the company's founder and executive chairman, MicroStrategy has spent approximately $8.33 billion to accumulate a total of 226,331 Bitcoin, averaging $36,798 per Bitcoin.The move follows the company’s announcement last week of raising $500 million to buy Bitcoin through the sale of convertible senior notes due in 2032.Shortly thereafter, MicroStrategy raised its initial target by 40% to $700 million, indicating that the funds would be used to acquire more Bitcoin and “for general corporate purposes.”MSTR shares more than 2% in premarket trading Thursday.

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