MicroStrategy Acquires Another 9,245 BTC for $623M, Now Holds Over 1% of Total BTC Supply

TL;DR

• MicroStrategy has purchased another 9,245 bitcoins for $623 million.

• The company now holds over 1% of the total BTC supply.

MicroStrategy Now Holds Over 214k Bitcoins

Software firm MicroStrategy continues its buying spree after purchasing another 9,245 bitcoins (BTC) for $623 million or about $67,400 per coin, according to a filing on Tuesday.

This latest development means that the company acquired these bitcoins using $592.3 million raised from its most recent convertible deft offering plus $30.7 million of excess cash.

Furthermore, the Michael Saylor-led company now holds approximately 214,246 BTC (worth $13.5 billion at current prices), which is more than 1% of all the 21 million bitcoins that will ever exist. 

According to the filing, MicroStrategy acquired these bitcoins for $7.53 billion, an average of $35,160 per coin. The company purchased more bitcoins as the price of the world’s leading is underperforming. 

BTC is down by 5% in the last 24 hours and is currently trading at $62,720 per coin. Meanwhile, MicroStrategy’s shares (MSTR) are down over 5% at $1,417 after the close of the market on Tuesday.