MicroStrategy buys $4.6 billion in Bitcoin, boosts holdings to nearly $30 billion
The post MicroStrategy buys $4.6 billion in Bitcoin, boosts holdings to nearly $30 billion appeared on BitcoinEthereumNews.com. Key Takeaways MicroStrategy acquired 51,780 Bitcoin for $4.6 billion between November 11 and November 17. The company’s total Bitcoin holdings now approach $30 billion in market value. MicroStrategy announced today it had acquired 51,780 Bitcoin in a series of purchases made between November 11 and November 17, paying an average price of $88,627 per coin. This move increases its total holdings to 331,200 BTC, valued at approximately $30 billion at current prices. The purchase follows the company’s earlier acquisition of 27,200 Bitcoin between October 31 and November 10, coming after signals from co-founder Michael Saylor about a potential Bitcoin acquisition. To fund the purchase, MicroStrategy entered into a sales agreement with several investment banks, including TD Securities, according to its filing with the SEC. The company sold 13.6 million shares between November 11 and November 13. It has approximately $15.3 billion in shares remaining available for issuance and sale under the agreement. Last month, Saylor announced his ambitious goal to make MicroStrategy become a leading Bitcoin bank by leveraging financial instruments to increase its Bitcoin holdings. Source: https://cryptobriefing.com/microstrategy-bitcoin-acquisition-3/
The post MicroStrategy buys $4.6 billion in Bitcoin, boosts holdings to nearly $30 billion appeared on BitcoinEthereumNews.com.
Key Takeaways MicroStrategy acquired 51,780 Bitcoin for $4.6 billion between November 11 and November 17. The company’s total Bitcoin holdings now approach $30 billion in market value. MicroStrategy announced today it had acquired 51,780 Bitcoin in a series of purchases made between November 11 and November 17, paying an average price of $88,627 per coin. This move increases its total holdings to 331,200 BTC, valued at approximately $30 billion at current prices. The purchase follows the company’s earlier acquisition of 27,200 Bitcoin between October 31 and November 10, coming after signals from co-founder Michael Saylor about a potential Bitcoin acquisition. To fund the purchase, MicroStrategy entered into a sales agreement with several investment banks, including TD Securities, according to its filing with the SEC. The company sold 13.6 million shares between November 11 and November 13. It has approximately $15.3 billion in shares remaining available for issuance and sale under the agreement. Last month, Saylor announced his ambitious goal to make MicroStrategy become a leading Bitcoin bank by leveraging financial instruments to increase its Bitcoin holdings. Source: https://cryptobriefing.com/microstrategy-bitcoin-acquisition-3/
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