MicroStrategy Acquires $1.1 Billion in Bitcoin, Stock Surges 8%

The software firm now holds 244,800 bitcoins worth $14.6 billion, making it the largest corporate holder of the cryptocurrency.

MicroStrategy purchased 18,300 bitcoins between August 6 and September 12, 2024, at an average price of $60,408 per coin.
The company's total bitcoin holdings are now valued at approximately $14.6 billion, with an average purchase price of $38,585 per bitcoin.
MicroStrategy's stock has risen 124% this year, significantly outperforming bitcoin's 35% increase.
The latest acquisition was funded by the sale of over 8 million shares of company stock.
MicroStrategy's strategy to securitize bitcoin aims to provide traditional investors with different types of bitcoin exposure.