MicroStrategy buys $1.11 billion worth of Bitcoin, increasing total holdings to 244,800 BTC

From Investing.com

September 13, 2024 12:00 PM:

American business intelligence and software firm MicroStrategy Inc. purchases 18,300 more Bitcoin for $1.11 billion at approximately $60,408 per Bitcoin, increasing total holdings to 244,800 BTC acquired over four years for roughly $9.45 billion.

MicroStrategy remains a major Bitcoin holder despite criticism, using Convertible Senior Notes to buy more. Company achieves 4.4% BTC yield QTD and 17.0% YTD, with strong share performance on Wall Street.

MicroStrategy’s consistent advocacy for Bitcoin attracts new buyers like Japanese investment firm Metaplanet, who also sells securities to acquire more digital currency. Both firms confident in Bitcoin’s potential for massive returns with current price 20% below ATH.

Read more at Investing.com: MicroStrategy Buys Additional 18,300 Bitcoin (BTC) By U.Today