Microstrategy acquires $1.1B in bitcoins, bringing total holdings to 244,800 bitcoins

From Investing.com

September 13, 2024 08:48 AM:

MicroStrategy, Inc. has acquired approximately 18,300 bitcoins for $1.11 billion, bringing their total holdings to 244,800 bitcoins at an average price of $38,585 per bitcoin. The purchase was funded through a $2 billion stock issuance program, with 8,048,449 shares sold for the acquisition.

Led by CEO Michael Saylor, MicroStrategy continues to advocate for Bitcoin, viewing it as a valuable treasury asset. The company’s significant investment in Bitcoin, now over $9 billion, highlights its confidence in the digital currency’s long-term value and its commitment to incorporating it into their financial strategy.

Read more at Investing.com: Microstrategy acquires a further $1.11B in bitcoins By Investing.com