Microstrategy Purchases 18,300 More Bitcoins

Microstrategy on Friday announced that it had purchased 18,300 bitcoins between August 6 and September 12 for a total of $1.11 billion.

As of September 12, the company held roughly 244,800 bitcoins, which they had acquired for approximately $9.45 billion.

The company’s executive chairman, Michael Saylor, shared this news through an announcement on X. These purchases were made possible through a sales agreement signed on August 1 with various financial institutions, which allowed Microstrategy to sell up to $2 billion in shares.

By September 12, 2024, the company had raised $1.11 billion through the sale of 8,048,449 shares. The company continues to rely heavily on equity sales to fund its bitcoin acquisitions as part of its strategy to increase its digital asset holdings.