Breaking: MicroStrategy has acquired an additional $768 million worth of Bitcoin
an additional 11,931 Bitcoins for a whopping $786 million, according to a Thursday announcement. They were acquired at an average price of $65,883 per coin.The company now holds a total of 226,331 Bitcoins, which makes it the largest corporate holder of the flagship cryptocurrency by a large margin. Ripple’s Top Lawyer Has Questions After SEC’s Ethereum U-Turn
The recent purchase was financed with the help of MicroStrategy's recent debt sale. Earlier today, the firm announced that it had completed its $800 million convertible note offering. The firm's average Bitcoin purchase price has now increased to $36,798 after the most recent purchase. Earlier today, the Bitcoin price managed to reclaim the $66,000 level and reached an intraday high of $66,436.
Despite its massive size, the recent purchase had little impact on the market since it was mostly priced in after the firm upsized its debt sale last week. The shares of MicroStrategy are up 2.56% in pre-market trading. They are up an impressive 114% on the year-to-date basis, significantly outperforming Bitcoin. , the company's aggressive leverage buying strategy, which involves selling debt to accumulate more Bitcoins, was recently criticized by gold bug Peter Schiff.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Michael Saylor Spotlights Major Investment Board's Bet on BitcoinWisconsin Investment Board joins Michael Saylor's MicroStrategy in mega Bitcoin bet
Read more »
Bitcoin and MicroStrategy on Brink of Collapse? Peter Schiff Sounds AlarmEconomist and crypto critic Peter Schiff warns of imminent crash for both Bitcoin and MicroStrategy
Read more »
Bernstein says MicroStrategy is 'building the world's largest bitcoin company' and has 80% upsideMicroStrategy can rally another 80% thanks to its aggressive bitcoin buying strategy, according to Bernstein.
Read more »
MicroStrategy's Notes Offering to Buy Bitcoin Sees Surprising TwistUnexpected twist in MicroStrategy's notes offering to buy Bitcoin unveiled, along with intriguing pricing details
Read more »
Med tech stock Semler Scientific takes bitcoin play from MicroStrategy's book, surges 30%Semler Scientific saw its shares surge Tuesday after it said it has adopted bitcoin as its primary treasury reserve asset.
Read more »
This Stock Surged 38% After Copying MicroStrategy’s Bitcoin PlanCrypto Blog
Read more »