Michael Saylor’s MicroStrategy has once again made waves in the cryptocurrency world, purchasing an additional 7,420 Bitcoin worth $458 million. This move comes on the heels of a successful $1 billion convertible senior notes offering, with the company channelling a significant portion of the proceeds into its Bitcoin acquisition strategy. Now holding 252,220 BTC, MicroStrategy remains the largest public holder of Bitcoin, with a total investment of nearly $10 billion since its first Bitcoin purchase in 2020.
Saylor, the company’s founder and chairman, shared the latest milestone on social media, stating: “MicroStrategy has acquired 7,420 BTC for ~$458.2 million at ~$61,750 per Bitcoin, achieving a BTC yield of 5.1% quarter-to-date and 17.8% year-to-date.” With an average acquisition price of $39,266 per Bitcoin, the company is sitting on an unrealized profit of $5.9 billion, solidifying its role as a dominant player in the Bitcoin space. Saylor continues to advocate for Bitcoin’s potential, emphasising its advantages over traditional assets and reaffirming MicroStrategy’s long-term commitment to the cryptocurrency.
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