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News - MicroStrategy: Michael Saylor buys more Bitcoin
No publicly traded company owns more Bitcoin than MicroStrategy. Now the company led by Michael Saylor is buying even more coins.
As founder Michael Saylor announced on June 20, via X, the company has purchased 11,931 BTC worth US$786 million. The average price for this purchase is $65,883 per Bitcoin.
MicroStrategy has acquired an additional 11,931 BTC for ~$786.0M using proceeds from convertible notes & excess cash for ~$65,883 per #bitcoin. As of 6/20/24, $MSTR hodls 226,331 $BTC acquired for ~$8.33B at average price of $36,798 per bitcoin.https://t.co/jE9dGqqnON
— Michael Saylor⚡️ (@saylor) June 20, 2024
The money for the purchases came from both cash reserves and recent capital increases. Just last week, the company issued bonds totaling $500 million. With the new acquisition has MicroStrategy now owns a total of 226,331 BTC with a total value of $14.9 billion. Following the purchase, Bitcoin rose 1.4 percent. MicroStrategy's price rose 1.25 percent. According to the company, the average price of the 226,331 BTC is $36,798 per Bitcoin.
Last weekend, Michael Saylor appeared at BTC Prague, the largest Bitcoin conference in Europe. There he presented his 21 propositions for Bitcoin. Among them, he was willing to go so far as to buy Bitcoin "at a price of $950,000." Ultimately, "Bitcoin is the perfect money," Saylor said.
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