MicroStrategy Acquires 11,931 Bitcoin for $786 Million, Boosting Total Holdings to $15 Billion

MicroStrategy, led by CEO Michael Saylor, has once again demonstrated its unwavering commitment to Bitcoin by purchasing an additional 11,931 BTC valued at $786 million. This latest acquisition, funded through convertible notes and surplus cash, was announced by Saylor, highlighting the company's strategic investment approach.

With this purchase, MicroStrategy paid an average of $65,880 per Bitcoin, bringing its total holdings to over 226,331 BTC since it began accumulating the cryptocurrency four years ago. The firm's Bitcoin holdings are now worth nearly $15 billion, a testament to the significant appreciation of the digital asset. Notably, MicroStrategy has acquired Bitcoin at an average price of $36,798 per BTC, a considerable discount compared to the current market price of $65,300.

The rise of Bitcoin has been a dominant topic in the financial sector in 2024, especially following the US Securities and Exchange Commission's approval of Spot Bitcoin ETFs in January. This regulatory milestone propelled Bitcoin into the mainstream, driving its price to a record high of $73,000 in March.

MicroStrategy's latest purchase is part of a broader strategy that includes a recent $800 million convertible note offering to investors. Initially set at $500 million, the offering was increased twice due to high demand. Earlier in March, the company also acquired 9,245 BTC for $623 million, underscoring its continuous and strategic investment in Bitcoin.

This sustained investment approach has proven fruitful, not just for MicroStrategy, but for other early adopters and supporters of Bitcoin as well. As Bitcoin continues to gain traction and institutional interest, companies like MicroStrategy are positioning themselves at the forefront of this financial revolution.