MicroStrategy has disclosed new BTC acquisition of nearly $150 million between August 1 and September 24, as per a regulatory filing made on Monday.
MicroStrategy stated, “MicroStrategy, together with its subsidiaries, acquired approximately 5,445 bitcoins for approximately $147.3 million in cash, at an average price of approximately $27,053 per bitcoin, inclusive of fees and expenses.”
Currently, MicroStrategy holds approximately 158,245 BTC, which were obtained at a total purchase price of around $4.68 billion, with an average acquisition cost of approximately $29,582 per bitcoin.
To finance this purchase, the company issued and sold a total of 403,362 MSTR shares. Back in August, MicroStrategy had announced its intention to potentially raise up to $750 million by selling additional stock, with plans to allocate some of the proceeds towards further bitcoin acquisitions.
MicroStrategy, often referred to as a Bitcoin whale, on August 1 announced that it had acquired 420 BTC since its last update in June, bringing its total bitcoin holdings to 152,800 BTC, valued at $4.46 billion at the time.
According to MicroStrategy’s Q2 earnings report, the 12,800 BTC acquired since Q1 were obtained at an average cost of $28,233 per coin, slightly below the prevailing market price of $29,195. Nevertheless, the company’s average purchase price for its entire BTC portfolio remains slightly higher at $29,672.
Andrew Kang, the CFO of MicroStrategy, commented on the company’s strategy, stating, “We efficiently raised capital through our at-the-market equity program and used cash from operations to continue to increase bitcoins on our balance sheet.” Kang also highlighted the favorable environment for Bitcoin, citing “increasing institutional interest, progress on accounting transparency, and ongoing regulatory clarity.”
In late June, MicroStrategy had announced its acquisition of 12,333 BTC since April, funded by proceeds from the company’s share sales.
