MicroStrategy, in a filing with the US SEC on September 20, announced the acquisition of 7,420 BTC for $458.2 million at an average price of $61,750 per Bitcoin between September 13 and September 19. The company used proceeds from its recent senior notes offering, which raised $1.01 billion, to fund the purchase. Originally aiming for $700 million in debt notes, MicroStrategy increased the offering to $875 million due to high demand.
This latest acquisition follows the firm’s recent purchase of approximately 18,300 BTC for over $1 billion, which was financed by selling more than 8 million company shares. As a result, MicroStrategy now holds a total of 252,220 BTC, purchased for a combined $9.90 billion at an average price of $39,266 per Bitcoin, including fees and expenses. Data from SaylorTracker shows that the company’s total Bitcoin holdings are currently valued at $15.84 billion, reflecting an unrealized profit of approximately $6 billion.
MicroStrategy also reported a quarterly Bitcoin yield of 5.1% and a year-to-date yield of 17.8%. Following this news, MSTR was up 0.18% according to Yahoo Finance data.
In addition to its Bitcoin acquisitions, there has been a growing interest in MicroStrategy’s exchange-traded funds (ETFs). Two recently launched leveraged MicroStrategy ETFs are among the most volatile in US history and have been attracting significant attention. The long MicroStrategy ETF recorded $2 million in volume on its first day and was on track to reach $10 million by midday on September 19. According to ETF analyst Eric Balchunas, these early successes are rare for ETF launches, with only about 1-2% seeing this level of volume so quickly.
Greg King, the founder of Osprey Funds, noted that these ETFs offer one of the most leveraged ways to play BTC in the current market. Defiance ETFs also launched a 1.75x MicroStrategy ETF on August 15, which has already surpassed $200 million in assets.
Overall, MicroStrategy continues to make significant moves in the cryptocurrency space, both through its Bitcoin acquisitions and the popularity of its ETFs. The company’s strategic investments are positioning it as a key player in the evolving digital asset landscape.