MicroStrategy buys Bitcoin worth $458m, total holdings hit 252,220 BTC

MicroStrategy has purchased more Bitcoin, announcing the purchase of an additional 7,420 BTC.

MicroStrategy announced the completion of a $1 billion convertible senior notes offering on Sept. 20. The company planned to use the proceeds to purchase more Bitcoin (BTC).

Hours later, the company’s founder and chairman, Michael Saylor, revealed that the firm had purchased more than $458 million worth of Bitcoin. According to details filed with the U.S. Securities and Exchange Commission on September 20, 2024, MicroStrategy purchased the additional BTC at an average price of $61,750 per BTC.

MicroStrategy, an AI-powered cloud analytics firm and currently the largest public holder of Bitcoin, also announced a 5.1% quarter-to-date and 17.8% year-to-date total BTC return.

MicroStrategy sees $5.99 unrealized Bitcoin profit

With the latest acquisition, the company’s total assets increased from 244,800 BTC to 252,220 BTC.

The Michael Saylor-led firm has spent around $9.9 billion adding BTC to its balance sheet since it first purchased Bitcoin in August 2020. This includes the recent addition of 18,300 BTC for $1 billion.

These assets were purchased at an average price of $39,266 per BTC, meaning the company has over $5.9 billion in unrealized profits. Saylor announced in August 2024 that he had $1 billion in personal BTC assets.