MicroStrategy Acquires 18,300 BTC, Achieves 17% YTD Yield
The post MicroStrategy Acquires 18,300 BTC, Achieves 17% YTD Yield appeared on BitcoinEthereumNews.com.
MicroStrategy Incorporated has disclosed that it acquired 18,300 Bitcoins for $1.11 billion from August 6, 2024, to September 12, 2024. The co-founder of the company, Michael Saylor, also owns $1 billion worth of Bitcoin with plans to acquire more. MicroStrategy has, in its latest report, disclosed that its consistent Bitcoin (BTC) accumulation has brought its portfolio to 244,800 BTC ($14 billion) as of September 12, 2024. According to the report, the company’s multiple purchases were made from the proceeds of issuance and sales of shares under the Sales Agreement. Aggregately, these assets were acquired at a purchase price of approximately $9.45 billion and an average purchase price of around $38,585 per Bitcoin including fees and expenses. Sales Agreement and Notable Bitcoin Purchases on Record On August 1, MicroStrategy entered into a Sales Agreement with TD Securities. The agreement required that the company sell shares of its class A common stock for $0.001 per share with an aggregate offering price of up to $2 billion. On September 13, the company announced that it had sold an aggregate amount of $8,048,449 per share as of September 12 under the Sales Agreement. This brought the aggregate net proceeds to around $1.11 billion. According to the document at our disposal, MicroStrategy Incorporated used these proceeds to make a staggering purchase of 18,300 Bitcoins for around $1.11 billion in cash between August 6, 2024, and September 12, 2024. The average purchase price per Bitcoin, including fees and expenses, was around $60,408. On June 20, MicroStrategy also announced that it had acquired approximately 11,911 Bitcoins for $786 million in cash from April 27 to June 19, 2024. According to the company, these purchases were made using the Offering and Excess Cash at an average price of around $65,883 per Bitcoin. As we formerly reported, MicroStrategy and…
Filed under: News - @ September 15, 2024 9:18 pm