Microstrategy bought another $458 million in Bitcoin this week

Business intelligence firm MicroStrategy (MSTR) bought 7,420 Bitcoin (BTC) for about $458.2 million, bringing the company's total holdings to 252,220 BTC, at an average purchase price of $39,266 per coin.

Along with the acquisition, MicroStrategy just emphasized that it is the owner of Bitcoin's largest corporate treasury, with its BTC holdings now valued at $15.9 billion as of this writing.

A SEC Filing On Friday, MicroStrategy said it had raised $1.01 billion in a convertible senior note offering, with the proceeds earmarked for additional Bitcoin purchases.

While it's not confirmed whether this particular purchase was directly funded by the $1.01 billion, MicroStrategy's strategy has repeatedly used both debt and internal funds to store bitcoins. Michael Saylor's company has steadily increased its holdings despite market volatility.

Just last week, the firm announced the purchase of 18,300 bitcoins, worth $1.1 billion at the time. This was the company's biggest acquisition since 2021. And earlier this week, the company said it plans to raise $700 million to pay off previous debts and buy more Bitcoin.

Saylor, the co-founder and former CEO of MicroStrategy, is one of Bitcoin's most vocal proponents. As a corporate treasury asset.

In 2020, MicroStrategy made waves when it became the first publicly traded company. Since then, Saylor has been advocating for Bitcoin as a more secure store of value and to protect against inflation compared to traditional assets like gold or cash.

Saylor emphasized his belief in Bitcoins Long-term potentialEven in the ups and downs of the market. He pointed out that Bitcoin's decentralized nature makes it a superior asset in uncertain economic conditions. According to Saylor, it's Bitcoin. “Highest Property” And its ability to store value increases Institutional interest grows.

The company's total Bitcoin purchases now Size About 9.9 billion dollars. MicroStrategy's stock rose about 1 percent on the day to its current price of $146, marking a 113 percent year-to-date price jump.

Edited by Andrew Hayward.