MicroStrategy moves 4,922.697 Bitcoin to three unmarked new addresses: Arkham

Blockchain intelligence firm Arkham has identified that MicroStrategy has transferred 4,922.697 BTC to three new unmarked addresses.

This large movement of BTC in multiple transactions occurred an hour before and also after the Federal Reserve announced a 50 basis point rate cut.

Following the Fed’s rate cut announcement, the price of Bitcoin surged by 3%. The global cryptocurrency market cap also increased by 3% to reach $2.14 trillion.

MicroStrategy’s BTC movement happened in 4 transactions

The transfer was executed in four separate transactions. The movement of the Bitcoin was as follows: 360.251 BTC, 2,026 BTC, 395.446 BTC, and 2,141 BTC.

The Bitcoin transfer comes just a day after MicroStrategy’s announcement of a private offering of convertible senior notes worth $875 million. The company has priced these notes at an annual rate of 0.625%. It is available only to qualified institutional buyers as per the Securities Act of 1933.

“The offering was upsized from the previously announced offering of $700 million aggregate principal amount of notes,” the company stated.

MicroStrategy also stated its intention to use the net proceeds from the offering and use any balance to acquire additional Bitcoin.

MicroStrategy now holds 244,800 Bitcoin

Despite the volatility of Bitcoin, MicroStrategy’s commitment to accumulate Bitcoin as a treasury reserve asset remains steady. On September 13, the company revealed its most recent Bitcoin purchase of 18,300 BTC. The purchase was made for $1.11 billion.

This acquisition has resulted in a Bitcoin Yield of 4.4% quarter-to-date and 17.0% year-to-date.

As of September 12, 2024, MicroStrategy’s Bitcoin holdings were acquired for approximately $9.45 billion at an average price of $38,585 per Bitcoin.

According to data from Saylor Tracker, the latest purchase brings the total holdings of the company to 244,800 BTC. Data shows that the latest purchase alone has fetched an unrealized gain of $25.2 million.

In terms of the total holdings, MicroStrategy’s BTC stash has an unrealized gain of 60.3%. This translates to a $5.72 billion in unrealized gain.

The price of Bitcoin is up from a 24 hour low of $59,218 to its current level above $62,200. CoinMarketCap data shows that BTC is up by over 7% in the last seven days.