MicroStrategy’s Bitcoin Holdings Surge with Recent $821.7 Million Purchase

In a remarkable display of confidence in cryptocurrency, MicroStrategy has made headlines with its latest strategic acquisition. Between February 26 and March 10, 2024, the company has purchased approximately 12,000 bitcoins, amounting to a staggering $821.7 million in cash. This bold move utilized $781.1 million from the proceeds of a recent offering and an additional $40.6 million of excess cash.

The acquisition was made at an average price of approximately $68,477 per bitcoin, inclusive of fees and expenses. With this purchase, MicroStrategy’s total holdings have swelled to about 205,000 bitcoins, acquired at an aggregate price of roughly $6.91 billion and an average purchase price of around $33,706 per bitcoin.

This investment is not just a significant financial move for MicroStrategy but also a strong signal of the company’s belief in bitcoin as a dependable store of value. It reflects a growing trend among corporations to diversify their assets and hedge against traditional financial market volatility.

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