MicroStrategy disclosed on Tuesday that it had added 301 Bitcoin worth approximately $6 million to its balance sheet.

According to Founder and former CEO Michael Saylor, the filing revealed that the purchases were made between August 2 and September 19.

MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per #bitcoin. As of 9/19/22 @MicroStrategy holds ~130,000 bitcoins acquired for ~$3.98 billion at an average price of ~$30,639 per bitcoin.https://t.co/5kYW98ij4I

— Michael Saylor?? (@saylor) September 20, 2022

This is the firm’s first acquisition since June when it secured 480 bitcoin for around $10 million. According to an 8-K filing with the SEC, MicroStrategy and its subsidiaries now own approximately 130,000 Bitcoins for an acquisition price of about $3.98 billion.

Michael Saylor stepped down as CEO of the firm in August and took on a new role as executive chairman to focus more on Bitcoin.

On September 9, the firm announced plans to sell up to $500 million in class A common stock and could buy more Bitcoin during this most recent purchase period.

“We intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of Bitcoin, unless otherwise indicated in the applicable prospectus supplement,” the filing stated.

According to Coinbase data, Bitcoin was trading at $19,072 at the time of writing, up about 2.08% in the previous 24 hours.

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The post MicroStrategy Acquires an Extra $6 Million in Bitcoin appeared first on Latest Crypto News.

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MicroStrategy Acquires an Extra $6 Million in Bitcoin was first posted on September 20, 2022 at 6:17 pm.
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