Business Markets News Report
September 25, 2023

MicroStrategy Acquires 5,445 Bitcoins Worth $147 Million

In Brief

MicroStrategy has invested in an extra 5,445 bitcoins, totaling around $147 million.

The firm now possesses about 158,245 bitcoins, valued at an estimated $4.1 billion at present rates.

In a bold financial play between August and September 2023, MicroStrategy, along with its subsidiaries, expanded its Bitcoin holdings, purchasing an additional 5,445 BTC. The acquisition, totaling around $147.3 million, was executed at an average cost of $27,053 per Bitcoin, a figure inclusive of all fees and expenses.

Bitcoin Portfolio Expansion Amid Tumbling Market

This new acquisition brings MicroStrategy’s total Bitcoin holdings to a staggering 158,245 BTC.

MicroStrategy, having invested approximately $4.68 billion, holds a significant accumulation at an average price of $29,582 per Bitcoin. This investment makes the company one of the most notable institutional holders of Bitcoin.

The commitment showcases the firm’s belief in the long-term value and stability of Bitcoin amid the volatile cryptocurrency market. To make this happen, the company announced the sale of 403,362 shares of its Class A common stock. This sale generated net proceeds of roughly $147.3 million.

MicroStrategy carried out this sale under a Sales Agreement from August 1, 2023. The agreement was under Cowen and Company, LLC, Canaccord Genuity LLC, and Berenberg Capital Markets LLC. The firms acted as sales agents.

The agreement allows for the issue and sale of shares with an aggregate offering price of up to $750 million, which provided substantial liquidity and financial flexibility to the company.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

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Nik Asti
Nik Asti

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

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