• MicroStrategy purchases an additional $6 million in bitcoin

  • MicroStrategy disclosed on Tuesday that it had added 301 bitcoin worth approximately $6 million to its balance sheet.

    The complaint revealed that the purchases were made between August 2 and September 19, according to Founder and Former CEO Michael Saylor.

    This is the firm’s first buy since June when it purchased 480 bitcoin for about $10 million. According to an 8-K filing with the SEC, MicroStrategy and its subsidiaries currently own roughly 130,000 bitcoins for a total purchase price of nearly $3.98 billion.

    Michael Saylor resigned as CEO of the firm in August and took on a new role as executive chairman to focus more on bitcoin.

    On September 9, the firm announced plans to sell up to $500 million in class A common stock and potentially buy more bitcoin during this most recent acquisition session.

    “We intend to use the net proceeds from this offering for general corporate purposes, including the acquisition of bitcoin, unless otherwise indicated in the applicable prospectus supplement,” the filing said.

    According to Coinbase data, bitcoin was trading at $19,072 at the time of writing, up roughly 2.08% in the previous 24 hours.

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