MicroStrategy Increases Bitcoin Holdings to 226,331 BTC with New $786M Acquisition

On Jun 20, 2024

MicroStrategy, a US-based Nasdaq-listed business intelligence firm, is a well-known company in the Bitcoin market due to its substantial Bitcoin holdings. This company is popular in the crypto space for its big Bitcoin balance.

On 20 June 2024, Micheal Saylor, the former CEO of Microstrategy, shared that MicroStrategy had bought an additional 11,931 bitcoins for approximately $786 million. The company used proceeds from convertible notes and excess cash, paying nearly $65,883 per bitcoin.

At this present date, MicroStrategy holds a total of 226,331 bitcoins. These were acquired for around $8.33 billion, at an average price of $36,798 per bitcoin.

MicroStrategy has acquired an additional 11,931 BTC for ~$786.0M using proceeds from convertible notes & excess cash for ~$65,883 per #bitcoin. As of 6/20/24, $MSTR hodls 226,331 $BTC acquired for ~$8.33B at average price of $36,798 per bitcoin.https://t.co/jE9dGqqnON
— Michael Saylor⚡️ (@saylor) June 20, 2024

With this Bitcoin holding, Microstrategy has an unrealised profit of $6.36 billion.

#Microstrategy is in unrealised profit of
$6,368,044,501 (83.94%) pic.twitter.com/T7rkhpsrVp
— Bitcoinik (@Bitcoinikdotcom) June 20, 2024

The former Microstrategy CEO always remain active on X (formerly Twitter) to share his daily thoughts & views on Bitcoin (BTC). He suggests people invest time in studying Bitcoin because it costs zero $ & it helps people to make more money than what people earn from spending time usual salary money.

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You'll spend 100,000 hours working to earn money. Spend 100 hours learning how to keep it. #Bitcoin pic.twitter.com/li9rtjuWHn
— Michael Saylor⚡️ (@saylor) June 17, 2024

Bitcoin price

The current trade price of Bitcoin (BTC) is $64,977 & this trade price is -7.5% down over the 7 days.

MicroStrategy Increases Bitcoin Holdings to 226,331 BTC with New $786M Acquisition 1

Despite the bearish sentiments in the crypto space, popular Crypto analyst Titan of Crypto shared his analysis & said that Bitcoin is currently holding a key level where we can see that Bitcoin’s next target ranges between $96k to $110k.

#Bitcoin Next Target Zone : $96,000 – $110,000. 🚀#BTC still holding at key level.

A bounce is likely from this level. pic.twitter.com/UJ69WyAc5j
— Titan of Crypto (@Washigorira) June 20, 2024

In the present time, the majority of the Bitcoin spot ETF buyers trying to sell their holdings, as currently no bull factor favour sudden pump possibilities.