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BREAKING : MicroStrategy Acquires Additional 12,333 BTC, Expanding Bitcoin Holdings to Over 152,000

Company's total Bitcoin investment surpasses $4.5 billion as MicroStrategy continues to bolster its cryptocurrency portfolio.

MicroStrategy, a business intelligence company, has recently made headlines with its latest acquisition of Bitcoin (BTC). According to the company's founder and chairman, Michael Saylor, MicroStrategy has purchased an additional 12,333 BTC for approximately $347.0 million. The average price per Bitcoin in this transaction was around $28,136. This acquisition brings MicroStrategy's total Bitcoin holdings to 152,333 BTC, acquired at an average price of $29,668 per Bitcoin, amounting to approximately $4.52 billion.

The news of MicroStrategy's Bitcoin purchases was disclosed in a recent filing with the United States Securities and Exchange Commission (SEC). In the filing, the company reported its ongoing efforts to invest in Bitcoin as part of its treasury management strategy. MicroStrategy has been a prominent advocate of Bitcoin, viewing it as a reliable store of value and a hedge against inflation.

The filing also mentioned a previous agreement made by MicroStrategy with Cowen and Company, LLC, and Canaccord Genuity LLC, allowing the company to issue and sell shares of its class A common stock. This arrangement, known as the Sales Agreement, enables MicroStrategy to offer up to $625.0 million worth of shares periodically through the sales agents.

As of June 27, 2023, MicroStrategy announced that it had sold a total of 1,079,170 shares under the Sales Agreement, generating net proceeds of approximately $333.7 million after accounting for sales commissions and expenses. The funds raised through the sale of shares will likely contribute to MicroStrategy's ongoing Bitcoin acquisitions.

MicroStrategy's continuous investment in Bitcoin reflects its confidence in the long-term potential of the cryptocurrency. Michael Saylor has been vocal about his belief in Bitcoin's ability to preserve and grow wealth over time. The company's strategic decision to allocate a significant portion of its treasury reserves into Bitcoin has garnered attention and sparked discussions about the role of cryptocurrencies in corporate finance.

While MicroStrategy's approach to treasury management is unique and has drawn both support and criticism, the company's commitment to Bitcoin has undoubtedly made it a prominent player in the cryptocurrency market. As the adoption and acceptance of cryptocurrencies continue to evolve, it will be interesting to see how MicroStrategy's investment strategy unfolds and its impact on the broader financial landscape.


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