MicroStrategy Invests an Additional $1.11 Billion in Bitcoin

MicroStrategy has invested a whopping US $1.1b to advance its Bitcoin portfolio, buying 18,300 BTC.
The company raised funds for the purchase by selling over 8 million shares.
The investment brings MicroStrategy’s total BTC holdings to over 244,000, valued at US $14b.
This is nearly 10x larger than the next biggest public Bitcoin holder, Marathon Digital Holdings.

I know, I know – it’s been over a month since our last “Michael Saylor buys Bitcoin” article, and I’m sure some of our readership were getting worried.

Well, fear not – MicroStrategy is back, announcing yet another billion-dollar investment into BTC.

The company is amassing a huge portfolio of the coin, bringing its total holdings to 244,800 Bitcoin, worth approximately AU $20.8b.

Related: Michael Saylor Says Bitcoin Will go to 13 Million, Calls it Asset Without Counterparty Risk

MicroStrategy Now Owns Nearly 10x More Bitcoin Than Second-Biggest Public Holder

The most recent investment comes as Bitcoin (and the crypto market in general) sits in a bit of a lull, with the coin ranging around the US $60k (AU $90k) mark.

The purchases were made throughout August, with an average buy price of US $60,408 (AU $91k) per BTC.

The US $1.1b (AU $1.6b) investment was funded through a Sales Agreement MicroStrategy put in place with several financial institutions, selling a significant portion of company stock. This allowed the team to nab another 18,300 BTC – an investment nearly the same size as the second-biggest public Bitcoin holder’s entire portfolio (Marathon Digital with approx 26,000 BTC).

MicroStrategy has acquired 18,300 BTC for ~$1.11 billion at ~$60,408 per #bitcoin and has achieved BTC Yield of 4.4% QTD and 17.0% YTD. As of 9/12/2024, we hodl 244,800 $BTC acquired for ~$9.45 billion at ~$38,585 per bitcoin. $MSTR https://t.co/WBBRSKxA1U
— Michael Saylor⚡️ (@saylor) September 13, 2024

MicroStrategy Stock Soars as Profits Pour In

Saylor has demonstrated a unique love for Bitcoin that’s been unmatched across the business world, and for good reason.

The multi-billion BTC portfolio has an average buy price of around US $37k (AU $55k) per BTC. This puts MicroStrategy’s paper gains at a whopping US $5.4b (AU $8b) purely from accumulating Bitcoin.

The news gets even better for Saylor and co, with MicroStrategy’s stock (MSTR) rebounding following a lackluster six months. MSTR rose 18% over the past five days of trading, pushing the asset’s price close to its monthly high.