MicroStrategy, led by Bitcoin advocate Michael Saylor, has once again expanded its massive Bitcoin holdings. Between August 6 and September 12, the software company purchased 18,300 BTC for just under $1.1 billion. This brings MicroStrategy’s total Bitcoin stash to a staggering 244,800 BTC, now worth over $14 billion.
The latest Bitcoin acquisition was made at an average price of $60,408 per BTC, slightly above Bitcoin’s current trading value. This marks the company’s largest Bitcoin purchase since February 2021, when it bought 19,452 BTC. The recent purchases were funded by the sale of over 8 million shares of MicroStrategy stock.
MicroStrategy’s accumulation strategy began in 2020, when Bitcoin was priced around $12,000. Since then, its stock price has skyrocketed by over 800%, thanks in part to its Bitcoin investments. The company’s average BTC purchase price now stands at $38,585, making its Bitcoin holdings nearly 51% more valuable than what it paid.
As the largest corporate Bitcoin holder, MicroStrategy controls around 1% of Bitcoin’s total market cap, far exceeding other corporate holders like Marathon Digital Holdings and Riot Platforms.
Michael Saylor has consistently championed Bitcoin’s long-term potential, predicting it could eventually reach $13 million per coin within the next 21 years. His bold strategy has paid off so far, and MicroStrategy remains a key player in the cryptocurrency market.