MicroStrategy issues new stocks to buy Bitcoin, holding over 240,000 BTC, with unrealized gains of $5.3 billion.

Bitcoin development company MicroStrategy announced its issuance of new stocks to purchase more Bitcoin. As of now, MicroStrategy holds a total of 244,800 Bitcoins, with an unrealized profit of up to 5.3 billion US dollars.

MicroStrategy Buys Another 18,300 Bitcoins

Between August 6, 2024, and September 12, 2024, MicroStrategy purchased approximately $1.1 billion worth of 18,300 Bitcoins at an average price of $60,408 per Bitcoin. As of September 12, 2024, MicroStrategy holds a total of 244,800 Bitcoins, with a total cost of $9.45 billion and an average purchase price of $38,585 per Bitcoin.

Based on the Bitcoin price of $60,300 at the time of writing, their unrealized profit amounts to a staggering $5.3 billion.

Issuance of New Stocks for Bitcoin Purchase

On August 1, 2024, MicroStrategy signed a sales agent agreement with TD Securities USA LLC, The Benchmark Company, LLC, BTIG, LLC, Canaccord Genuity LLC, Maxim Group LLC, and SG Americas Securities, LLC to issue Class A common stock with a total issuance amount of $2 billion. As of September 12, 2024, MicroStrategy has sold a total of 8,048,449 shares under the sales agreement, generating approximately $1.1 billion, all of which has been used to purchase Bitcoin.

Bitcoin Yield Reaches 17%

This year, MicroStrategy introduced a new key performance indicator (KPI) for its Bitcoin strategy called "Bitcoin Yield." Bitcoin Yield is the ratio of Bitcoins held by MicroStrategy to its diluted outstanding shares. MicroStrategy believes that this KPI can complement investors' understanding and decision-making regarding Bitcoin purchases through the issuance of additional common shares or instruments convertible into common shares. In the last financial report, MicroStrategy stated a target of 4% to 8% annual growth over the next three years.

MicroStrategy Financial Report: Introducing "Bitcoin Yield" KPI Indicator, Issuing $2 Billion in New Stocks for Bitcoin Purchase

However, the "Bitcoin Yield" has already reached an impressive 17% year-to-date.