Home,   Read,   News, Bitcoin

MicroStrategy Adds $1.1B in BTC to Its Massive Holdings

The firm now holds a mind-boggling 244.8K bitcoin.

Subscribe to Bankless or sign in

MicroStrategy announced it has acquired an additional 18.3K BTC for approximately $1.11B at an average price of $60,408 per bitcoin.

What’s the Scoop?

  • Total Holdings: The firm now holds 244.8K BTC, worth roughly $14B, purchased at an average price of $38,585 per bitcoin.
  • Funding Source: The latest purchase was funded by selling over 8M shares, raising $1.11B, under a $2B stock offering agreement initiated in August.
  • Previous Purchase: This follows a prior purchase in August when MicroStrategy added 12,222 BTC for $805M.

Bankless Take:

While MicroStrategy is certainly at the helm of corporate players stacking sats, thousands of businesses may quietly building be their Bitcoin Bitcoin reserves, with Bitcoin financial services company River reporting that businesses now hold over 3.3% of Bitcoin’s total supply. This reflects a broader shift, with companies opting to buy Bitcoin directly, rather than through ETFs, to avoid being classified as investment companies.


5
0
Uniswap Labs - Sponsor Image
Sponsored Uniswap Labs Unichain is live! Bridge & swap with Uniswap Labs' web app or wallet.
In The Article
Bitcoin Bitcoin
David C

Written by David C

369 Articles • View all      

David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.

No Responses
Search Bankless