U.S. business intelligence firm %MicroStrategy (NASDAQ: MSTR) has bought another 12,000 %Bitcoin ($BTC) as the price of the world’s largest cryptocurrency hits an all-time high.
MicroStrategy, which is a publicly traded business intelligence software firm, said it funded its latest Bitcoin purchase with $782 million U.S. that it raised from a convertible debt offering.
The company, led by crypto bull Michael Saylor, now owns 205,000 Bitcoin that are collectively worth nearly $15 billion U.S.
MicroStrategy said it paid an average of $68,477 U.S. per coin for its latest cache of Bitcoin.
In all, MicroStrategy spent $821.7 million U.S. buying the latest Bitcoin through proceeds from the debt raise and excess company cash.
Under Saylor’s direction, MicroStrategy has steadily increased its holding of Bitcoin this year even as the price has risen to record heights just above $72,000 U.S.
The price of Bitcoin has risen 62% so far in 2024 and gained nearly 250% in the past 12 months.
MicroStrategy’s stock has risen 122% year-to-date and is up 581% over the last year. The company’s shares currently trade at $1,519.75 U.S. each.
