Good day everyone,
I hope you are all well and having excellent day, welcome to CryptoGod-1’s blog on all things crypto. Today I will be looking at the recent news of MicroStrategy adding over five thousand more Bitcoin to their overall supply.
Bitcoin Investment
Nasdaq-listed MicroStrategy (MSTR) have purchased an additional 5,445 BTC across August and September 2023. The company are considered the world’s leading corporate Bitcoin holder, and in an announcement on Monday the 25th of September 2023 they noted the business had acquired $147.3 million worth of Bitcoin. The average price paid was $27,053 per Bitcoin “inclusive of fees and expenses” according to the latest filing with the Securities and Exchange Commission (SEC).
“As of September 24, 2023, MicroStrategy, together with its subsidiaries, held an aggregate of approximately 158,245 bitcoins, which were acquired at an aggregate purchase price of approximately $4.68 billion and an average purchase price of approximately $29,582 per bitcoin, inclusive of fees and expenses.”
It was further noted in the filing that MicroStrategy entered into a sales agreement with both Cowen and Company, Canaccord Genuity and Berenberg Capital Markets as sales agents last month. These agreements were made to sell shares worth up to $750 million.
In August there was an unrealised loss of more than $600 million in MicroStrategy’s Bitcoin investments, as the price of Bitcoin fell as low as around $25,000. Michael Saylor, MicroStrategy’s chairman, has repeatedly noted that the company would not sell its holdings.
“Our strategy is to buy and hold Bitcoin, and the key for us is to be consistent, transparent and responsible in the pursuit of that strategy,” he said in a CNBC interview, early this year.
Have a great day.
Peace. CryptoGod-1.
Referral Links and Follow Me:
