- Michael Saylor announced that MicroStrategy has acquired an additional 7,420 Bitcoin, valued at $458.2 million.
- The purchase was made following the completion of a $1 billion sale of senior convertible notes.
- MicroStrategy now holds a total of 252,220 BTC, representing 1.27% of the total Bitcoin supply.
MicroStrategy continued its Bitcoin acquisition on Friday, announcing the purchase of 7,420 BTC for $458.2 million. The company now holds 1.27% of the total Bitcoin in circulation.
MicroStrategy Acquires Additional Bitcoin for $458 Million
Business intelligence firm MicroStrategy has purchased 7,420 BTC for $458.2 million, funded by its recent sale of senior convertible notes. CEO Michael Saylor announced that the tokens were acquired at a rate of $61,750 per Bitcoin, increasing the company's total Bitcoin holdings to 252,220 BTC.
Saylor noted that MicroStrategy's total Bitcoin acquisitions have an average cost of $39,266 per BTC, with the overall investment—accounting for fees and expenses—totaling approximately $9.9 billion.
This acquisition follows the successful completion of a $1 billion upsized offering of senior convertible notes. Earlier this week, MicroStrategy announced a private offering of $700 million in senior notes, stating its intention to use the proceeds to repay debts and buy more Bitcoin.
Today's purchase comes on the heels of MicroStrategy's acquisition of 25,720 BTC for $1.11 billion last week, marking its largest purchase since 2021.
MicroStrategy began its aggressive Bitcoin acquisition strategy in August 2020, reshaping its corporate treasury approach to make Bitcoin a central asset in its portfolio. This strategy is rooted in Saylor's belief that Bitcoin is “digital gold,” a stance that has solidified his prominent role in the crypto industry.
