Software firm %MicroStrategy (NASDAQ: $MSTR) has increased its holdings of %Bitcoin (CRYPTO: $BTC), taking its stake in the largest %Cryptocurrency up to $15 billion U.S.
Under the direction of Executive Chairman Michael Saylor, MicroStrategy has acquired an additional 11,931 Bitcoin at a cost of $786 million U.S. following a corporate equity raise.
The company now holds 226,331 Bitcoin worth right around $15 billion U.S. based on the digital token’s current price of $65,500 U.S.
MicroStrategy has taken advantage of the recent slump in Bitcoin’s price to buy more tokens.
The company's Bitcoin holdings have been purchased at an average price of $36,798 U.S., which means the company’s position has nearly doubled in value.
The latest purchase comes after MicroStrategy's $800 million U.S. convertible note offering to institutional investors.
MicroStrategy is now the largest corporate holder of Bitcoin in the world, having first started to buy the cryptocurrency back in 2020.
While still technically a software and business intelligence company, Michael Saylor has said that MicroStrategy is pivoting to become more of a cryptocurrency firm.
The stock of MicroStrategy has risen 370% over the last 12 months to trade at $1,469.43 U.S. per share.
