MicroStrategy Adds 11,931 BTC Tokens to Its Portfolio, Now Holds 226,331 BTC

MicroStrategy, a leading analytics and business intelligence company, has deepened its Bitcoin commitment. Under the leadership of staunch Bitcoin proponent Michael Saylor

MicroStrategy has deepened its Bitcoin commitment, adding 11,931 BTC tokens to its portfolio.

The company now holds 226,331 BTC tokens as its primary reserve asset.

According to a press release on June 20, MicroStrategy disclosed its latest Bitcoin purchase in a recent Form 8-K filing to the US SEC.

The filing revealed the purchase of 11,931 BTC tokens, valued at an average price of $65,883 per token, for a total cost of approximately $786 million.

MicroStrategy founder Michael Saylor also confirmed the firm's latest Bitcoin acquisition on X.

Saylor noted that MicroStrategy used proceeds from its recent sales of convertible notes and other cash for the purchase.

On June 18, MicroStrategy completed the private sales of its convertible notes, offering a 2.25% coupon and a 35% conversion premium over the average price of the firm's A stock category.

Initially, the company aimed to generate $700 million from the convertible notes. However, due to high market demand, the offering was pushed to $800 million, presenting an opportunity to purchase more notes.

As of April 2024, MicroStrategy held 214,400 BTC coins. With the recent acquisition, the company's BTC holdings have increased to 226,331 BTC tokens.

At the current market price of $64,117, MicroStrategy's BTC holdings are valued at approximately $14.51 billion.

Moreover, Saylor noted that MicroStrategy purchased its BTC tokens at an average price of $36,786 per coin, bringing the total cost for the assets to approximately $8.33 billion.

MicroStrategy's History of Bitcoin AcquisitionMicroStrategy has remained bullish on Bitcoin, aggressively accumulating more coins at the slightest market dip.

The company serves as a pioneer among Bitcoin proponents, adopting BTC as a primary reserve asset.

Moreover, the consistent Bitcoin accumulation reflects the firm's reliability and trust in BTC as a store of wealth and a viable long-term investment option.

Being a prominent Bitcoin proponent, MicroStrategy's founder and Chairman, Michael Saylor, strongly advocates for BTC as a hedge against inflation.

As reported by Bloomberg, MicroStrategy began purchasing Bitcoin in 2020. Over the past few years, it has made a remarkable accumulation of the flagship crypto asset.

On March 11, the firm purchased 12,000 BTC tokens, valued at about $821 million, and an additional $632 million worth of Bitcoin on March 19.

Currently, MicroStrategy is the largest institutional holder of Bitcoin, with over 1% of the total BTC mined supply.

Interestingly, several companies have followed MicroStrategy's BTC accumulation pattern. Medical manufacturing firm Semler Scientific has acquired 828 BTC coins.

Similarly, a Japanese company, Metaplanet, has accumulated up to 117.7 BTC coins.

News source：https://www.kdj.com/cryptocurrencies-news/articles/microstrategy-adds-btc-tokens-portfolio-holds-btc.html

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