MicroStrategy has added 12,000 BTC to its Bitcoin stash and now holds over $14.7 billion worth of BTC.
Publicly traded business intelligence company MicroStrategy has accumulated 12,000 BTC in its latest purchase. The latest big buy brings the company’s total Bitcoin portfolio to 205,000 BTC, currently valued at over $14.7 billion.
MicroStrategy has acquired an additional 12,000 BTC for ~$821.7M using proceeds from convertible notes & excess cash for ~$68,477 per #bitcoin. As of 3/10/24, $MSTR hodls 205,000 $BTC acquired for ~$6.91B at average price of $33,706 per bitcoin. https://t.co/YayyKtpz8d
— Michael Saylor⚡️ (@saylor) March 11, 2024
12,000 BTC Added
Like most previous purchases, MicroStrategy’s latest purchase occurred a day ago – March 10th. These assets were acquired for approximately $821.7 million, a Form 8-K submitted to the United States Securities and Exchange Commission (SEC) reveals. BTC sold for $68,477 at acquisition time.
The company added that it accrued these assets with “proceeds from convertible notes & excess cash.” Recall that MicroStrategy recently revealed plans to raise $700 million through convertible notes and other means. The firm explained that it would invest funds raised into BTC.
MicroStrategy’s last big buy occurred late last month when the firm accrued 3,000 BTC for $155 million. Although the business intelligence company stated that its 205,000 BTC stash was accumulated for about $6.91 billion, its portfolio is currently valued at nearly $15 billion as BTC’s price breaks new heights.
The leading cryptocurrency traded around $71,800 at press time, representing a 3.3% increase in the last 24 hours. The asset also broke a new all-time high (ATH) of over $72,300 earlier today.
Source: CoinStats
Saylor: Bitcoin Will Eat Gold
Expressing his bullish stance around the leading cryptocurrency, MicroStategy’s co-founder and former CEO Michael Saylor stated in a CNBC interview that Bitcoin would soon eat gold. It was under Saylor’s leadership the business intelligence firm began its BTC acquisition spree in 2020.
Commenting on BTC’s performance in comparison to gold, Saylor said:
“[Bitcoin] is going to eat gold. It’s got all of the great attributes of gold and it’s got none of the defects of gold.”
