MicroStrategy Buys 12k New BTC

MicroStrategy has bought another $786 million worth of Bitcoins, demonstrating that it is still going strong. 

MicroStrategy's founder, Michael Saylor, revealed in an early Thursday morning X post that the company had increased its holdings of Bitcoin by 11,931 BTC for $786 million in cash.

In a regulatory filing, the business also stated that it obtained over 12,000 Bitcoins between April 27 and June 19 at an average cost of about $65,883 per Bitcoin.

Following the most recent acquisition, MicroStrategy and its affiliates currently own 226,331 BTC, which is estimated to be worth $15 billion. The transaction comes less than a week after MicroStrategy revealed plans to acquire more Bitcoin with the proceeds from the $800 million convertible senior note issue, which will mature at a rate of 2.25% annually. 

Despite the significant buy, MicroStrategy looks to be second only to BlackRock, which now has over 305,000 BTC in its spot Bitcoin exchange-traded fund.

According to Nasdaq data, MicroStrategy's share price (MSTR) rose 2.3% in pre-market trade after the announcement, hitting $1,503. According to CoinMarketCap data, the current value of Bitcoin is roughly $65,944, at the time of publication.