0
0
News

MicroStrategy Adds $1.1B in BTC to Its Massive Holdings

The firm now holds a mind-boggling 244.8K bitcoin.
0
0
Sep 13, 2024 • 1 min read

MicroStrategy announced it has acquired an additional 18.3K BTC for approximately $1.11B at an average price of $60,408 per bitcoin.

What’s the Scoop?

  • Total Holdings: The firm now holds 244.8K BTC, worth roughly $14B, purchased at an average price of $38,585 per bitcoin.
  • Funding Source: The latest purchase was funded by selling over 8M shares, raising $1.11B, under a $2B stock offering agreement initiated in August.
  • Previous Purchase: This follows a prior purchase in August when MicroStrategy added 12,222 BTC for $805M.

Bankless Take:

While MicroStrategy is certainly at the helm of corporate players stacking sats, thousands of businesses may quietly building be their Bitcoin reserves, with Bitcoin financial services company River reporting that businesses now hold over 3.3% of Bitcoin’s total supply. This reflects a broader shift, with companies opting to buy Bitcoin directly, rather than through ETFs, to avoid being classified as investment companies.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

There’s a revolution in the world of money. Ethereum, Bitcoin, crypto, open finance, DeFi—a bankless revolution. And you want part of it.

Are you sure you want
to log out?
You'll lose access to your Bankless account until you log back in again. Oh and also, we'll miss you too much! 😢
Cancel
Continue
Account Light mode Log Out