Nasdaq-listed business intelligence firm MicroStrategy, the largest corporate holder of Bitcoin, has added an additional 9,245 BTC to its portfolio, bringing its total holdings above 1% of the cryptocurrency’s supply.
According to a recent filing with the U.S. Securities and Exchange Commission, MicroStrategy has made a second multi-million dollar Bitcoin purchase in just over a week, bringing its total Bitcoin stash to 214,246 BTC, worth over $14 billion.
The latest purchase was financed through the sale of convertible notes, similar to a previous acquisition of $821.7 million worth of Bitcoin last week. The company’s Bitcoin was acquired at an average price of $35,160 per coin, meaning around $7.53 billion was invested.
Bitcoin’s capped supply of 21 million coins adds another layer of intrigue to MicroStrategy’s holdings. With around 19.7 million BTC already issued, the company’s holdings represent a significant portion of the total supply that will ever be available, estimated to be reached by the year 2140.
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- Source: https://www.cryptocompare.com/email-updates/daily/2024/mar/20/
