MicroStrategy spent $147.3 million, or an average of $27,053 per Bitcoin, to acquire 5,445 Bitcoin between August 1 and September 24.
MicroStrategy’s co-founder and CEO Michael Saylor recently revealed that the company has acquired 5,445 Bitcoin (BTC) at an average price of $27,053.
MicroStrategy reportedly amassed 5,445 Bitcoin between August 1 and September 24, as reported on their Form 8-K. It spent $147.3 million buying Bitcoin at an average price of $27,053 over this time.
However, MicroStrategy raised $147.3 million by selling 403,362 class A common stocks. This allowed the company to acquire Bitcoin. Class A ordinary shares of the company might fetch as much as $750 million, as announced by BeInCrypto on August 1.
According to the Sales Agreement that MicroStrategy signed on August 1, it can issue and sell up to $75 billion worth of its class A common stock through Cowen and Company, LLC, Canaccord Genuity LLC, and Berenberg Capital Markets LLC, who are acting as sales agents. Each share has a face value of $0.001, and the total offering price for all shares is $750.0 million.
MicroStrategy stock (MSTR) has dropped by almost 25% in value since August 1. MicroStrategy now has 158,245 Bitcoin (BTC) in its possession after a recent investment. Over the last three years, the firm has spent over $4.68 billion buying Bitcoin at an average price of $29,582.
Despite the crypto cold, MicroStrategy has maintained its Dollar Cost Averaging (DCA) tactics. The Bitcoin halving is approaching in less than a year, and the crypto industry expects it to spark a fresh bull run. And there are many who predict that within a year, everyone will be calling Saylor a genius.
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