Business intelligence firm MicroStrategy has continued its aggressive acquisition strategy by purchasing an additional 18,300 bitcoins for approximately $1.1 billion. This acquisition, detailed in an SEC filing, occurred between August 6 and September 12, contributing to a total bitcoin holding of 244,800 BTC valued at roughly $14 billion.

The latest purchase is part of MicroStrategy's broader financial strategy, which leverages proceeds from the issuance and sale of the firm's shares. Following an agreement in August to offer up to $2 billion of its stock through sales agents, the company confirmed that it sold over 8 million shares, aligning with its bitcoin investment strategy.

This recent acquisition follows another notable purchase in August when MicroStrategy acquired 12,222 BTC for $805 million. With a total average purchase price of $38,585 per bitcoin across all holdings, MicroStrategy has made a substantial commitment to the cryptocurrency market.

Despite fluctuations in performance—MicroStrategy's stock price remained relatively stable with a slight 1% decline over the past month but a significant 277% increase over the past year—this ongoing investment strategy highlights the firm’s confidence in bitcoin as a key asset in its portfolio.

Source: https://www.theblock.co/post/316397/microstrategy-buys-18300-bitcoins

The information provided in this article is for informational and educational purposes only, based on news and sources gathered from the internet. This content should not be considered as investment advice, financial guidance, or a suggestion to buy or sell any digital assets. Before making any financial decisions, we recommend consulting with a professional financial advisor and conducting your own research. The author and the blog are not responsible for any losses or damages that may arise from using this content.