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Michael Saylor's MicroStrategy Now Holds Over $4.6B Worth of Bitcoin
The firm bought over 12K bitcoin for $347 million in the last two months.
Updated Jun 28, 2023, 7:22 p.m. Published Jun 28, 2023, 12:16 p.m.
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Michael Saylor's MicroStrategy (MSTR) bought 12,333 bitcoin , for $347 million in cash, between April 29 and June 27, the company said on Wednesday.
With the most recent purchase, MicroStrategy now holds 152,333 bitcoin, worth over $4.6 billion at current prices.
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The company, which was founded by crypto billionaire Michael Saylor, is one of the largest HODLers of bitcoin. MicroStrategy also said it sold some $333.7 million of its shares as per a previously disclosed shares sale agreement.
In May, the firm had booked a smaller than expected write down for the first quarter on its bitcoin's holdings.
Shares of the firm were down 1% at $321.44 during pre-market trading, mirroring bitcoin, which was down over 1% at $30,288.
Read more: Michael Saylor's MicroStrategy Books a Much Smaller Bitcoin Impairment Charge
UPDATE (June 28, 2023, 12: 23 UTC): Adds additional details and background.
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Banking giant Intesa Sanapolo discloses $100 million bitcoin ETF holdings, along with Strategy hedge
The bank also holds a large put option position on Strategy, potentially capitalizing on the company trading above the value of its BTC holdings.
What to know:
- Intesa Sanpaolo disclosed $96 million in bitcoin ETF holdings, including ARK 21Shares Bitcoin ETF and iShares Bitcoin Trust.
- The bank also holds a large put option position on Strategy, potentially capitalizing on the company trading above the value of its BTC holdings.
- The filing used the Share-Defined designation, which suggests the investment decisions were made jointly by Intesa Sanpaolo and executed by affiliates.
