Over the past month, MicroStrategy has purchased another 18,300 bitcoins (BTC), for a total of $1.1 billion.
MicroStrategy is the world’s largest corporate holder of Bitcoin, currently managing 244,800 BTC worth $14.1 billion.
MicroStrategy Continues to Buy Bitcoin
MicroStrategy Founder and CEO Michael Saylor announced about buying another batch of bitcoins on his X (former Twitter) profile. According to him, the average price of one BTC was $60,408.
In early August, the company concluded two deals at once — with TD Securities and The Benchmark. Under the agreements, MicroStrategy issued Class A shares, through which it raised up to $2 billion.
According to CoinGeckoover the past 30 days, the price of the crypto market flagship has fallen by 6%. Throughout August, the asset was traded in the range of $56 thousand to $58 thousand.
Over the year, the price of Bitcoin has increased by a total of 120%. Saylor noted that the company’s quarterly income from investments in BTC currently stands at 4.4%, and its annual income is 17%.
Company started buying bitcoin in August 2020. It then became its long-term strategy. MicroStrategy spends millions of US dollars on BTC and also issues additional bonds. With the help of the latter, the firm attracts even more funds to buy cryptocurrency.
As of September 12, MicroStrategy had $4.6 billion in unrealized gains from its Bitcoin investments.
For years, Saylor’s company held the title of the largest holder of BTC. However, with the advent of spot Bitcoin ETFs in the US, that all changed. That title is now held by the BlackRock fund, which manages is stored 357,277 BTC worth $20.6 billion.
The top largest owners of the first cryptocurrency by capitalization also include the anonymous creator of Bitcoin Satoshi Nakamoto and the crypto exchange Binance.
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Source: Cryptocurrency
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