MicroStrategy continues to accumulate cryptocurrency by purchasing another 11,931 Bitcoins worth $786 Million. The Michael Saylor led business intelligence company has indeed purchased the BTC “using proceeds from convertible notes [and] excess cash,” The CEO stated in an announcement.
In its most recent purchase of Bitcoin, the firm spent more than $65,880 for each BTC. The firm’s Bitcoin total now stands at more than 226,331 after four years of buying this digital currency.
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MicroStrategy adds to Bitcoin Holdings with $786 Million Purchase
Bitcoin was one of 2024’s most discussed topics. Spot Bitcoin Exchange-Traded Funds were approved by the US Securities and Exchange Commission in January. This pushed the token into mainstream. This institutional interest pushed its price up to $73,000, a new record.
The recent rise of this asset has been fruitful to many people and companies who are avid fans. The most notable is Michael Saylor’s MicroStrategy, This company has recently purchased another 11,931 Bitcoins, worth $786 million.
![MicroStrategy disclosed in its third-quarter earnings report last week that it purchased 155 additional bitcoins in October.](https://fxruhanahmed.com/2/wp-content/uploads/2024/06/MicroStrategy-Buys-Another-11931-Bitcoin-Worth-786M.jpg)
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Overall, the value of its Bitcoins is almost $15 billion. It has purchased BTC on average at $36,798, a significant discount to the current price of $65,400. CoinMarketCap.
Saylor’s firm and Saylor have recently offered investors a $800,000,000 convertible note. It was initially announced at $500,000,000, but it has been raised twice more to its final amount. The company purchased 9 245 BTC in March this year for $623 Million, demonstrating its ongoing strategy.
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Source: watcher.guru