MicroStrategy Now Holds Nearly $15 Billion Worth of Bitcoin

• MicroStrategy announced that it acquired over 11,900 more bitcoin in a period spanning from late April to Wednesday, June 19.
• The company now has 226,331 bitcoin worth nearly $15 billion, making it the largest publicly listed corporate holder of bitcoin.
• MicroStrategy has been on a bitcoin buying spree this year, raising funds through senior convertible notes offerings to acquire more bitcoin.

MicroStrategy has continued accumulating bitcoin, announcing in a new SEC filing that it purchased over 11,900 BTC between late April and June 19th. The company’s total bitcoin holdings are now worth nearly $15 billion.

Background on MicroStrategy’s Bitcoin Purchases

• MicroStrategy first began purchasing bitcoin in August 2020 and has steadily accumulated more since then.
• The company now holds around 226,331 BTC acquired at an average price of $36,798 per bitcoin.
• This represents over 1% of the total bitcoin supply.
• MicroStrategy is the largest publicly traded corporate holder of bitcoin.
• The company has raised money via convertible senior note offerings to fund its bitcoin purchases, including a recent $700 million offering.

Latest Bitcoin Purchase Details

• Between late April and June 19, MicroStrategy acquired 11,900 BTC at an average price of $65,883 per bitcoin.
• This latest purchase totaled around $780 million.
• The new BTC were acquired via open market purchases.
• MicroStrategy’s total investment in bitcoin is now around $8.3 billion.

Impact on MicroStrategy

• With bitcoin’s price around $65,000, the value of MicroStrategy’s holdings is now close to $15 billion.
• The company’s stock price has risen over 345% in the past year, though it has fallen around 8% in the past week.
• Other public companies such as DeFi Technologies and Semler Scientific have also adopted bitcoin treasury strategies following MicroStrategy’s lead.

Conclusion

MicroStrategy’s continuous purchases have made it a major holder of bitcoin. With bitcoin’s potential as an inflation hedge and digital gold, more companies may add BTC to their balance sheets. However, regulatory concerns remain an obstacle. MicroStrategy’s bitcoin accumulation strategy has been a boon for its stock price, but a major decline in bitcoin’s price could erase some of those gains.