Business intelligence firm MicroStrategy has funded another massive Bitcoin purchase as BTC hovers below the $ 50,000 mark.
On Tuesday, Bitcoin Bull and CEO Michael Saylor announced that it raised $ 177 million to add more BTC to its reserves. In total, MicroStrategy bought about 3,907 Bitcoin with the last purchase.
“MicroStrategy purchased an additional 3,907 bitcoins for ~ $ 177 million in cash at an average price of ~ $ 45,294 per bitcoin. away [August 23, 2021] We hold 108,992 bitcoins that were purchased for $ 2.918 billion at an average price of $ 26,769 per bitcoin. “
The SEC filing revealed that the purchase took place between July 1st and August 23rd. According to bitcointreasuries.org, Microstrategy has 108,992 Bitcoin valued at approximately $ 5.3 billion and accounts for 0.5% of the total 21 million BTC supply.
To fund the purchase, MicroStrategy sold its Class A common stock in Jeffries, an ATM facility. A total of 238,054 shares of the company were sold at an average price of approximately $ 753.21 per share, for net proceeds of approximately $ 177.5 million.
Last month, $ 395 billion investment firm Capital International Investors became the technology company’s second largest shareholder after Add 953,242 shares of MicroStrategy (MSTR) valued at $ 670 million.
Capital International’s investments only lag behind global payments company Square, which holds 1,091,991 shares of MSTR valued at $ 767.6 million.
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