MicroStrategy now holds over 1% of bitcoin's total supply after latest purchase

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The Block2024/03/19 12:47

By:Yogita Khatri

MicroStrategy has purchased another 9,245 bitcoins for $623 million in cash, increasing its total bitcoin holdings to 214,246 BTC.

MicroStrategy now holds over 1% of bitcoin's total supply after latest purchase image 0

Michael Saylor's MicroStrategy acquired 9,245 more bitcoins for $623 million in cash, increasing its total bitcoin holdings to 214,246 BTC. With this latest purchase, the company now holds over 1% of the total bitcoin supply, comprising 21 million coins.

MicroStrategy's latest acquisition took place between Mar. 11 and Mar. 18 at an average price of $67,382 per bitcoin, including fees and expenses, the business software company said Tuesday.

The company bought the latest bitcoins using $592.3 million from the proceeds of a recent private offering of convertible senior notes, along with $30.7 million of excess cash.

MicroStrategy’s aggregate purchase price of all bitcoins is around $7.53 billion, while its current market value is above $13.5 billion. The bitcoin price surged this year, peaking above $73,000 before retracting to the current level of around $63,000.

MicroStrategy’s average purchase price per bitcoin is around $35,160, including fees and expenses.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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