MicroStrategy acquires 18,300 BTC and earns a 17% return over the year – now owns 244,800 BTC

• MicroStrategy Incorporated has disclosed that it acquired 18,300 Bitcoins for $1.11 billion between August 6 and September 12, 2024.
• The company’s co-founder, Michael Saylor, also owns Bitcoin worth $1 billion with plans to acquire more.

MicroStrategy has revealed in its latest report that its steady accumulation of Bitcoin (BTC) has brought its portfolio to 244,800 BTC ($14 billion) as of September 12, 2024. According to the report, the company’s multiple purchases were made with proceeds from the issuance and sale of shares under the Sale Agreement. Collectively, these assets were acquired at a purchase price of approximately $9.45 billion and at an average purchase price of approximately $38,585 per Bitcoin, including commissions and expenses.

Sale Agreement and notable Bitcoin purchases recorded

On August 1, MicroStrategy signed a sale agreement with TD Securities. The agreement called for the company to sell shares of its Class A common stock at $0.001 per share with a total offering price of up to $2 billion. On September 13, the company announced that it had sold an aggregate amount of $8,048,449 per share as of September 12 under the Sale Agreement. This brought the total net proceeds to approximately $1.11 billion.

According to the document available to us, MicroStrategy Incorporated used these proceeds to make a staggering purchase of 18,300 Bitcoins for about $1.11 billion in cash between August 6, 2024 and September 12, 2024. The average purchase price per Bitcoin, including commissions and expenses, was about $60,408.

On June 20, MicroStrategy also announced that it had purchased approximately 11,911 Bitcoins for $786 million in cash between April 27 and June 19, 2024. According to the company, these purchases were made using the Cash Offering and Excess Cash at an average price of about $65,883 per Bitcoin. As wepreviously reported, MicroStrategy and its affiliates held about 226,331 Bitcoins as of June 20.

From July 1 to Sept. 12, the company’s Bitcoin holdings returned 4.4% and 17% from Jan. 1 to Sept. 12.

Michael Saylor’s position on Bitcoin

The company’s Bitcoin movement in recent years is a reflection of the position of its CEO and co-founder, Michael Saylor. In his recent interview with Bloomberg reviewed by CNF, Saylor revealed that he owns 17,732 Bitcoin ($1 billion at the time of the interview). According to him, he has never sold any Bitcoin, as he is looking to buy more.

I have not sold any bitcoin, I keep acquiring more bitcoin. It’s a great capital investment asset for an individual, a family, an institution, a corporation or a country. And I don’t see a better place to invest my money.

According to him, bitcoin is the quintessential U.S. currency, citing U.S. Senator Cynthia Lummis’ proposed legislation to make the asset class a U.S. Bitcoin Strategic Reserve. For him, there has been a significant shift in political perspectives, and people have begun to realize the true value of this asset class.

I think the conversation has changed and every politician in the world has started to realize that Bitcoin is the most desirable property in cyberspace: it’s the future.”

At press time, Bitcoin was trading at $59,980, up 3% in the last 24 hours.