BREAKING: MicroStrategy Announces Bitcoin Purchase! BTC Price Declines!

• MicroStrategy continues to expand its cryptocurrency asset portfolio by making further additions to its Bitcoin holdings in recent months.
• As of now, the company holds a total of 158,245 Bitcoins, valued at approximately $4.68 billion, with an average unit price of $29,582.
• Additionally, the company announced last month that it had entered into an agreement to issue and sell $750 million worth of common stock with Cowen and Company, LLC, Canaccord Genuity LLC, and Berenberg Capital Markets LLC.

MicroStrategy, the world’s largest corporate Bitcoin holder, announced today that it has made a new Bitcoin purchase! All the details on COINOTAG!

MicroStrategy Announces Bitcoin Purchase

MicroStrategy, the world’s largest corporate Bitcoin holder, continues to expand its cryptocurrency asset portfolio by making further additions to its Bitcoin holdings in recent months. The company has revealed significant Bitcoin purchases in August and September.

In an announcement made on Monday, MicroStrategy stated that it had purchased a total of 5,445 Bitcoins at an average price of $27,053 per Bitcoin. These recent acquisitions have significantly increased MicroStrategy’s total Bitcoin holdings.

BREAKING: MicroStrategy reported purchasing $147.3 million worth of #Bitcoin

— COINOTAG NEWS (@coinotagen) September 25, 2023

As of now, the company holds a total of 158,245 Bitcoins, valued at approximately $4.68 billion, with an average unit price of $29,582. These Bitcoin assets are worth approximately $4.12 billion at current market prices. MicroStrategy continues to increase its commitment to Bitcoin and grow its portfolio by adding to its cryptocurrency assets.

Additionally, last month, the company announced that it had entered into an agreement to issue and sell $750 million worth of common stock with Cowen and Company, LLC, Canaccord Genuity LLC, and Berenberg Capital Markets LLC. As part of this agreement, the company issued a total of 403,362 shares and reported net proceeds (after deducting sales commissions) of approximately $147.3 million as of Sunday. These funds can be used to support MicroStrategy’s cryptocurrency asset purchases and finance the company’s other activities.

MicroStrategy’s cryptocurrency asset strategy demonstrates the company’s intention to use Bitcoin as a reserve asset for value storage and serve as an inspiration to other institutional investors to increase their interest in cryptocurrency assets. The company’s ongoing growth and investments in this space coincide with a period in which cryptocurrencies are becoming increasingly accepted and adopted by institutional investors.

What’s the Current Bitcoin Price?

The Bitcoin price declined by over 1% on Sunday, dropping to around $26,000 just ahead of the weekly close. Despite a challenging start to the week, BTC’s price is currently consolidating around $26,000. After briefly dipping below $26,000 following MicroStrategy’s BTC purchase, the price is currently trading at $26,060.