MicroStrategy, a prominent Bitcoin 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 utilized 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.
MicroStrategy remains the largest public Bitcoin holder, 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.