Michael Saylor's MicroStrategy Acquired Another 9,245 BTC for $623M

The company now holds approximately 214,246 bitcoins, which is more than 1% of all the 21 million of the tokens that will ever exist

AccessTimeIconMar 19, 2024 at 12:49 p.m. UTC
Updated Mar 19, 2024 at 3:01 p.m. UTC
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  • MicroStrategy used $592.3 million from its most recent convertible deft offering and $30.7 million in excess cash to make the purchase.
  • The company now owns more than 1% of all the bitcoin that will ever exist.
  • MSTR shares are down over 10% in pre-market activity following bitcoin's slump to $63,000.

MicroStrategy (MSTR), software firm and "bitcoin development company", has purchased another 9,245 bitcoins (BTC) for $623 million or about $67,400 per coin, according to a filing on Tuesday.

Led by Executive Chairman Michael Saylor, the company acquired its latest BTC trove using $592.3 million raised from its most recent convertible deft offering plus $30.7 million of excess cash.

MicroStrategy now holds approximately 214,246 BTC (worth $13.5 billion at current prices), which is more than 1% of all the 21 million bitcoin that will ever exist. It has paid approximately $7.53 billion for its BTC stash, an average of $35,160 per coin, according to the filing.

Alongside bitcoin's slump to the $63,000 level on Tuesday, MSTR shares are currently down over 10% at $1,344 in pre-market trading and off about 25% from a record high touched Friday.

Edited by Stephen Alpher.


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Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

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