MicroStrategy Whale Bitcoin Accumulation – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

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MicroStrategy’s Relentless Bitcoin Accumulation

Michael Saylor announced today over Twitter that MicroStrategy has purchased an additional 5,050 bitcoin for $242.9 million in cash at an average price of $48,099 per bitcoin, putting the company’s total holdings at 114,042 bitcoin.

Source: The Block Crypto

Source: The Block Crypto

With 114,042 bitcoin and approximately 8.58 million shares outstanding, investors now own 1.3 million sats per MicroStrategy share, with the bitcoin per share up 2%. As MicroStrategy issues more common stock to fund their bitcoin buying spree, investors give up some of their ownership through the increased equity dilution. In return, they get more bitcoin per share of MicroStrategy stock.

Over the last few weeks in their August 24 and September 13 announcements, MicroStrategy has sold an additional 793,232 shares for a total $577 million to buy more bitcoin. As previously announced in July, their Open Market Sale Agreement allows them to sell up to $1 billion in new stock. So far, Michael Saylor is following through with his original plan to buy as much bitcoin as possible through any and every financial vehicle at his disposal. And it doesn’t look like he’s stopping anytime soon.

Source link Bitcoin Magazine

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