MicroStrategy Buys 12,000 Bitcoin, Hits 205,000 Total

Between February 26 and March 10, 2024, MicroStrategy acquired Bitcoin at an average price of around $68,477 per Bitcoin, including fees and expenses.

MicroStrategy increased its overall Bitcoin holdings to 205,000 after purchasing about 12,000 more for about $821.7 million in cash.

The intelligence stated that MicroStrategy’s most recent acquisition occurred between February 26 and March 10, 2024, with an average price of almost $68,477 per bitcoin, including fees and expenditures.

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

The business used $40.6 million in extra cash and $781.1 million from the sale of convertible senior notes in a recent private offering to purchase the newest bitcoins.

The total cost of all the bitcoins that MicroStrategy purchased was approximately $6.91 billion, but their market worth is currently more than $14.7 billion. This year, the price of Bitcoin has soared to an all-time high and almost crossed $72,000, as per the data from Coimarketcap.

MicroStrategy’s average buying price per bitcoin is around $33,706 including fees and expenses. According to data from BitMEX, after this move, MicroStrategy surpassed BlackRock’s spot exchange-traded fund, which owned 197,943 Bitcoin.

Also Read: MicroStrategy Raises $700 Million to Buy More Bitcoin

Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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