Software analytics firm MicroStrategy revealed on June 28 that it had acquired 12,333 Bitcoin through a corporate purchase. The new acquisition was valued at $347 million when the announcement was made. 

This strategic move bolstered MicroStrategy’s BTC holdings to 152,333, equivalent to $4.68 billion. One Bitcoin is currently worth a little over $30,000. Notably, these digital assets were procured over the period spanning from April 27 to June 27. 

“On June 28, 2023, MicroStrategy announced that, as of June 27, 2023, MicroStrategy had issued and sold an aggregate of 1,079,170 Shares under the Sales Agreement for aggregate net proceeds to MicroStrategy (less sales commissions and expenses) of approximately $333.7 million.”

MicroStrategy gets more BTC.

As of Wednesday, MicroStrategy sold 1,079,170 shares under the agreement, generating $337 million in net proceeds. On April 5, the company acquired an additional 1,045 BTC ($29.3 million) and added it to its balance sheet. 

Michael Saylor, the company’s leader, has been actively promoting Bitcoin. He has led the way for corporations to embrace the world’s largest cryptocurrency by market capitalization as a strategic asset. 

In April, Saylor linked his corporate email address to Bitcoin’s Lightning Network. This decision allows anyone to use the CEO’s official email to transact Bitcoin.

During the crypto bear market, MicroStrategy acquired Bitcoin by using cash and stock financing, often disregarding its prevailing price. In Q1 2023, the company achieved its first profitable quarter since 2020, primarily driven by a one-time income tax advantage.