In a recent SEC filing, Michael Saylors MicroStrategy Incorporated (NASDAQ: MSTR) revealed its latest bitcoin acquisition, purchasing approximately 3,000 bitcoins for $155.4 million in cash. This purchase, conducted between February 15 and February 25, 2024, was made at an average price of about $51,813 per bitcoin, including fees and expenses. The company utilized funds from the sale of class A common stock and excess cash to finance this investment.
As of February 25, MicroStrategy's total bitcoin holdings have reached roughly 193,000 bitcoins, which were acquired at an average price of $31,544 per bitcoin, amounting to a total investment of approximately $6.09 billion. This strategic move highlights Saylor's continued commitment to Bitcoin as an investment.
Additionally, MicroStrategy provided an update on its at-the-market (ATM) equity program. The company entered into a Sales Agreement with Cowen and Company, LLC, Canaccord Genuity LLC, and BTIG, LLC on November 30, 2023, which allowed the sale of up to $750.0 million worth of its class A common stock.
As of February 25, 2024, MicroStrategy has completed the sale of 1,272,077 shares under this agreement, generating approximately $750.0 million in gross proceeds, with $137.8 million received since the start of the year.
This information is based on a statement from a press release and reflects MicroStrategy's ongoing investment in digital assets, particularly bitcoin, as it continues to navigate the cryptocurrency market. The company's strategic decisions have positioned it as a significant player in the corporate adoption of bitcoin.
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