Microstrategy announced on Friday, September 13 that it purchased 18,300 Bitcoins and paid approximately $1.11 billion for this transaction. The purchase was made at an average BTC price of $60,408.

This move significantly expanded MicroStrategy’s Bitcoin portfolio and once again demonstrated how strong the company’s digital asset investment strategy is.

According to the regulatory filing, MicroStrategy made these Bitcoin purchases between August 6 and September 12. The company’s Bitcoin reserves reached approximately 244,800 BTC with this latest purchase.

In total, spending on these BTCs amounts to approximately $9.45 billion, with the average purchase price set at $38,585. This figure covers all costs, including transaction fees and expenses.

Following this news, MicroStrategy shares rose 0.3% in premarket trading, according to Nasdaq data. As of 2024, this was another major Bitcoin purchase made by the company.

The company previously purchased 12,000 BTC in June and 9,245 BTC in March. These purchases reveal that MicroStrategy holds more than 1% of Bitcoin’s fixed supply.

In August, MicroStrategy announced plans to sell Class A shares and raise up to $2 billion to fund its crypto strategy.

However, an exact timeline for the sale of shares has not been announced. The company stated that the proceeds will be used for “general corporate purposes, particularly Bitcoin purchases.” The company stated that they have not determined any amount as to how much of the net revenues will be allocated for Bitcoin purchases.

MicroStrategy regularly uses share sales to fund Bitcoin purchases. In late 2023, the company sold $750 million worth of shares in an attempt to buy more Bitcoin.

These share sales were considered an important step supporting MicroStrategy’s Bitcoin-focused strategy. Subsequent reports confirmed that the company was expanding its Bitcoin portfolio with these purchases and strengthening its commitment to the cryptocurrency.

MicroStrategy’s Bitcoin strategy clearly outlines the company’s long-term investments in digital assets and its goal of increasing the value of Bitcoin. The company continues to view Bitcoin as an important part of its institutional reserves, and this approach strengthens MicroStrategy’s influence and strategic direction in the cryptocurrency market.

With this latest acquisition, MicroStrategy’s Bitcoin investments highlight how the company is influencing market dynamics and how major institutional investors are acting in the cryptocurrency market. Such large acquisitions by MicroStrategy stand out as an important factor increasing Bitcoin’s market value and institutional adoption rate.

All in all, MicroStrategy’s purchase of 18,300 BTC once again reinforces the company’s commitment to Bitcoin and the solid foundations of its digital asset strategy. The company’s large-scale Bitcoin purchases are an important factor affecting the increasing institutional interest in the cryptocurrency market and how the future value of Bitcoin will be shaped.