Microstrategy was able to expand its holdings of Bitcoin by acquiring 16,130 more BTCs. With this brand-new purchase, the software intelligence Nasdaq-listed organization now owns around 174,530 bitcoins. And that, too, was acquired for 5.28 billion dollars.
Since adopting a killer bitcoin strategy, the organization’s stock was able to outperform its major asset indices and classes.
Microstrategy’s Bitcoin Treasury Rises To 174,530 Coins
Microstrategy was able to disclose its latest Bitcoin acquisition. The organization’s former CEO and current chairman, Michael Saylor, took to X on Thursday to say,
“Microstrategy has acquired an additional 16,130 BTC for ~$593.3 million at an average price of $36,785 per bitcoin. As of 11/29/23, Microstrategy now holds 174,530 $BTC acquired for ~$5.28 billion at an average price of $30,252 per bitcoin.”
As per the organization’s filing with the U.S. SEC, the extra coins were actually obtained in cash between 1st and 29th November.
Since the firm adopted its strategy on Bitcoin on 10th August 2020, its stocks have risen by a solid 321%, as per a chart that was shared on X by Saylor, displaying the performances of Bitcoin, MSTR, and other popular stocks, indices, and asset classes. During the same time, Bitcoin was seen rising by a whopping 221% while the S&P was seen experiencing an increase of 36%, while the Nasdaq Composite index witnessed a rise of 30%.
However, bonds declined by 22%, silver dropped by 16%, and gold fell by 2%.
The firm also made it clear that it had entered into an agreement on 29th November, which terminated the agreement in terms of sales that it had with Berenberg, Canaccord, and Cowen Capital Markets. On 1st August, the sales agreement had come into motion, allowing the firm to issue as well as share its common stock accompanied by a total offering cost of upto 750 million dollars.
Before the termination, the firm issued as well as sold around 1,189,588 shares of its common stocks between 1st and 28th November, generating total proceeds of approximately 590.9 million dollars. Previously, the firm had stated that these processes would be actually used for acquiring bitcoin!
