MicroStrategy bought another 122 Bitcoins in April 2024
MicroStrategy purchased an additional $7.8 million in Bitcoin in April 2024, increasing its holdings to 214,400 BTC.
MicroStrategy, the world's largest public company with the most Bitcoins, has just released new data on its BTC holdings, along with its Q1/2024 financial report.
Accordingly, billionaire Michael Saylor's company owns a total of 214,245 Bitcoins, worth $13.85 billion, with an average purchase price of $35,372 per coin. This category accounts for more than 1% of Bitcoin supply, with nearly 19.7 million BTC out of a total of 21 million in circulation.
Since the end of the fourth quarter of 2023, MicroStrategy has purchased an additional 25,250 Bitcoin, for $1.65 billion at a DCA threshold of $65,232. Recently, president Michael Saylor confirmed that his company purchased an additional 122 BTC for $7.8 million in April this year.
Although the latest purchase is much more modest than the company's other investments over the years, it still helps push the size of MicroStrategy's reserves to a new level.
MicroStrategy Chief Financial Officer Andrew Kang confirmed that in the first quarter they raised more than 1.5 billion USD through 2 successful convertible bond offerings, as Coin68 reported.
MicroStrategy has purchased an additional 25,250 Bitcoin since the end of the fourth quarter, Kang added, the 14th consecutive quarter it has added Bitcoin to its balance sheet.
In conclusion, MicroStrategy management believes that Bitcoin and technological innovation are the only way to create value for its shareholders.
MicroStrategy seriously entered the Bitcoin market in August 2020, its first investment was worth 250 million USD. Since then, despite persistent losses, they have continuously added Bitcoin to their reserve assets and created today's huge numbers.
Even as Bitcoin has dropped more than $10,000 from its ATH of $73,777 set on March 14, the Bitcoin portfolio is still a significantly profitable channel for MicroStrategy, temporarily recording a profit of $6.3 billion.
However, compared to the same period last year, MicroStrategy's revenue decreased by 5%. MicroStrategy shares closed the session at the price range of 1,292.97 USD, corresponding to a capitalization of 22.8 billion USD. During after-hours trading, the stock fell nearly 3%, according to Google Finance.
Previously, MicroStrategy, a public company holding $13.3 billion in Bitcoin (BTC), announced a private offering of $600 million in convertible bonds for professional investors. The company plans to use the proceeds to buy more BTC.
MicroStrategy will also grant debt purchasers the option to purchase up to an additional $90 million within 13 days of initial issuance.
Convertible bonds mature on March 15, 2030, unless redeemed or converted in advance according to regulations. The debt certificates may be convertible into cash, MicroStrategy Class A common stock or a combination of both.
The stock price of the company famous for its commitment to Bitcoin reserves soared more than 23% in the first trading session of the week in the United States. However, the upward momentum did not last long until the parent company and co-founder and executive chairman Michael Saylor announced plans to issue debt certificates.
At the same time, the world's largest cryptocurrency also had a remarkable run last night, officially surpassing the threshold of 68,686 USD, setting an ATH in several countries and only remaining more than 300 prices away from its old peak.
MicroStrategy started buying Bitcoin seriously in 2020 and suffered persistent losses for a long time. Since then, the market capitalization has reached more than 22 billion USD, and the company's value has also increased tenfold.
With an average purchase price of $31,780, MicroStrategy's massive Bitcoin portfolio is currently worth more than $13.3 billion, recording a profit of $7.1 billion. Last month, the company purchased an additional 3,000 Bitcoin, bringing its holdings to 193,000 BTC.
