Bitcoin

MicroStrategy, a prominent <a href="https://yellow.com/asset/btc">Bitcoin</a> development company, has significantly bolstered its bitcoin investment, acquiring 51,780 tokens for a substantial $4.6 billion over the course of six days ending last Sunday. This strategic move reinforces the company's commitment to increasing its Bitcoin holdings, which began in August 2020. 
Presently, MicroStrategy possesses a total of 331,200 BTC, which were acquired at an estimated cost of $16.5 billion. With the current bitcoin price hovering around $90,000, these holdings are valued slightly under $30 billion. 
To finance this recent acquisition, MicroStrategy <a href="https://www.investopedia.com/microstrategy-bought-usd4-6b-worth-of-bitcoin-8747008">utilized</a> its at-the-market share issuance program, generating approximately $4.6 billion by selling 13.6 million shares. According to a regulatory statement released Monday morning, the company has another $15.3 billion available under the current program for potential future sales. 
Over the weekend, Michael Saylor, Executive Chairman, hinted at this significant purchase through a post on X, creating anticipation for the official announcement. Notably, just a week prior, the company had disclosed a purchase of 27,200 Bitcoin for $2 billion. This brings their cumulative acquisitions over the past weeks to around 72,000 BTC, totaling $6.6 billion in spending. 
Despite a premarket decline of 1% in MSTR shares, they maintain a robust increase, approximately 400%, year-to-date. 
<a href="https://yellow.com/news/microstategy-bought-even-more-bitcoin-holds-staggering-1-of-total-btc-supply-now">MicroStrategy remains the largest public Bitcoin holder</a>, owning 1% of BTC's total supply. 
The average purchase price per bitcoin stands at $36,798, including fees and expenses. That puts Saylor in green with rather impressive profit margins. Even at the current price levels, not to mention any surge to $100,000 or above that.

MicroStrategy Expands Bitcoin Holdings with Massive $4.6B Purchase

Yellow News

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