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The Virginia-based analytics and business intelligence behemoth MicroStrategy buys 9245 more bitcoin for about $623 million, at an average price of approximately $67,400 per bitcoin.
According to the filings, Led by Executive Chairman Michael Saylor, the company acquired its latest BTC stash using $592.3 million raised from its most recent convertible deft offering plus $30.7 million of excess cash.
Saylor is knowm for using debt to his advantage, even suggesting that individuals must “Mortgage Your Home And Buy Bitcoin”. And the former rocket scientist’s latest shopping spree shows the integrity of his words.
Just recently the company raised $700 million to purchase bitcoin and also announced its plans to raise additional $500 million in debt.
MicroStrategy now holds a total of 214,246 bitcoin, acquired for approximately $7.53 billion at an average price of $35,160 per coin. This purchase also brings their holdings to over 1% of the total supply of bitcoin that will ever exist.
Bitcoin itself is currently trading around $64,000, down from a recent rejection at $70,000. MicroStrategy’s stock price (MSTR) has also dipped by over 10% in pre-market trading.
Also Read: MicroStrategy Exceeds Amazon in Trading Volume
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