MicroStrategy announced its latest corporate purchase of 12,333 Bitcoin (BTC) which meant that the company’s total BTC holdings have grown to 152,333 BTC ($4.52 billion) which represents an average purchase price of $29,668 apiece at the time of writing.

The acquisition of the coins, which took place between April 27 and June 27, was partly financed by the issuance of new stock after entering into a Sales Agreement with Cowen and Company and Canaccord Genuity LLC.

This has enabled MicroStrategy to issue and sell shares of its class A common stock, valued at $0.001 per share, with an aggregate offering price of up to $625 million. As of June 28, the agreement has led to the selling and aggregating of 1,079,170 shares worth an overall value of $337 million.

Executive Chairman of MicroStrategy Michael Saylor announced the purchase via Twitter, and has been an outspoken advocate for Bitcoin and its adoption as a strategic asset. In spite of the crypto bear market, the company has been actively buying Bitcoin, sometimes irrespective of its current price. As a result of a one-time income tax benefit, the firm reported Q1 2023 to be its first profitable quarter since 2020.

Sources:

https://www.coindesk.com/business/2023/06/28/michael-saylors-microstrategy-now-holds-over-46b-worth-of-bitcoin/

https://cointelegraph.com/news/micro-strategy-buys-347m-worth-of-bitcoin-amid-market-thaw

https://twitter.com/saylor/status/1674025857063571456?t=7lDegHPLbBFLdg2M2ZGAPA&s=19

https://www.microstrategy.com/en/investor-relations#leadership