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In a recent SEC filing, Michael Saylors MicroStrategy Incorporated (NASDAQ: MSTR) disclosed its latest Bitcoin acquisition, purchasing approximately 3,000 Bitcoins for $155.4 million in cash. The purchases were made from February 15, 2024 to February 25, 2024, at an average price of approximately $51,813 per Bitcoin, including fees and expenses. The Company used proceeds from the sale of its Class A common stock and excess cash to finance this investment.
As of February 25th, MicroStrategy's total Bitcoin holdings amount to approximately 193,000 Bitcoins, acquired at an average price of $31,544 per Bitcoin, and total investment amount reaches approximately $6.09 billion. . This strategic move highlights Saylor's continued commitment to investing.
Additionally, MicroStrategy provided an update on its at-the-market (ATM) equity program. On November 30, 2023, the Company entered into a purchase and sale agreement with Cowen and Company, LLC, Canaccord Genuity LLC, and BTIG, LLC, providing for the sale of up to $750 million worth of Class A common stock.
As of February 25, 2024, MicroStrategy has completed the sale of 1,272,077 shares under this agreement, generating gross proceeds of approximately $750 million, and has received $137.8 million since the beginning of the year.
This information is based on statements in a press release and reflects MicroStrategy's continued investments in digital assets, particularly Bitcoin, as it continues to navigate the cryptocurrency market. Due to the company's strategic decisions, it is playing a key role in the corporate adoption of Bitcoin.
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