MicroStrategy Buys 12,000 More Bitcoin for $821.7 Million (1) (2024)

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MicroStrategy Buys 12,000 More Bitcoin for $821.7 Million (1)? ›

MicroStrategy Inc. bought another 12,000 Bitcoin for $821.7 million, the second-largest purchase by the enterprise-software maker since it began acquiring the cryptocurrency almost four years ago. The fresh hoard raised MicroStrategy's total Bitcoin holdings to around 205,000 tokens, or to more than $14 billion.

MicroStrategy continues to be the largest corporate holder of bitcoin on its balance sheets, now holding 226,331 bitcoin, or nearly $15 billion, after buying almost 12,000 more bitcoin from the recent sale of its convertible notes.

Michael Saylor, the chairman and co-founder of MicroStrategy, started buying Bitcoin in 2020 as an inflation hedge and alternative to holding cash. The company holds 214,246 tokens valued at around $14 billion. The maximum total amount of Bitcoin is 21 million, with about 19.7 million tokens having been issued so far.

Perhaps the most typical way of cashing out large amounts of Bitcoin is using a centralized exchange (CEX). These platforms provide extensive crypto trading tools and offer a few cash-out ways.

Digital Assets: As of March 31, 2024, the carrying value of the Company's digital assets (comprised of approximately 214,278 bitcoins) was $5.074 billion, which reflects cumulative impairment losses of $2.461 billion since acquisition and an average carrying amount per bitcoin of approximately $23,680.

Satoshi Nakamoto owns the most bitcoin with an estimated 1.1 million BTC. Satoshi not only invented but was also the first miner to create blocks of transactions.

Vanguard owns the most shares of Microstrategy Inc.

Key Points. After its latest acquisition binge, MicroStrategy now owns more than 1% of all Bitcoin in the world. The introduction of the new spot Bitcoin ETFs means that the "proxy stock" effect might wear off in 2024. MicroStrategy could already be significantly overpriced, based on the total valuation of its holdings ...

It uses business intelligence and predictive analytics to search through and perform analytics on big data from a variety of sources, including data warehouses, Excel files, and Apache Hadoop distributions.

Is it hard to cash out Bitcoin? ›

One of the easiest ways to cash out your cryptocurrency or Bitcoin is to use a centralized exchange such as Coinbase. Coinbase has an easy-to-use “buy/sell” button and you can choose which cryptocurrency you want to sell and the amount.

There are two ways you can cash out Bitcoin for cash. You can either do a Bitcoin exchange for a currency or sell your coins directly for cash at places like Coinbase. If you are looking to convert Bitcoin to real money, it's important to follow these steps to ensure a smooth conversion process.

For most exchanges, such as Coinbase, you can expect withdrawal fees to be about 1% of the amount being withdrawn.

Total debt on the balance sheet as of March 2024 : $3.61 B

According to MicroStrategy's latest financial reports the company's total debt is $3.61 B. A company's total debt is the sum of all current and non-current debts.

2017 boom and 2018 crash. The 2018 cryptocurrency crash (also known as the Bitcoin crash and the Great crypto crash) was the sell-off of most cryptocurrencies starting in January 2018. After an unprecedented boom in 2017, the price of Bitcoin fell by about 65% from 6 January to 6 February 2018.

From the time of its initial public offering in June 1998 through March 2000, MicroStrategy, Inc., a software company whose securities are listed on NASDAQ, materially overstated its revenues and earnings contrary to Generally Accepted Accounting Principles ("GAAP").

The maximum supply of 21 million bitcoins will be reached around the year 2140, after which no new bitcoins can be mined. The 21 million Bitcoin limit also has important implications for the process of Bitcoin mining.

Bitcoin adds a new block to the ledger about once every 10 minutes. This means that, on average, about 144 transaction blocks are added to the blockchain every day. Because miners are rewarded 6.25 BTC per block, about 900 BTC coins are minted each day.

Recent SEC filing reveals that MicroStrategy to reinvest $500M stock sales into Bitcoin. MicroStrategy (MSTR) intends to sell up to $500 million in stock. The sale is expected to take place to fund additional crypto asset purchases.

Total debt on the balance sheet as of March 2024 : $3.61 B

According to MicroStrategy's latest financial reports the company's total debt is $3.61 B. A company's total debt is the sum of all current and non-current debts.