MicroStrategy Buys 11,931 Bitcoin, Growing Its Bitcoin Stack to a Record 226,331 Coins

MicroStrategy, the software firm run by Bitcoin proponent Michael Saylor, just acquired 11,931 new Bitcoin, growing its stack to a record of 226,331 coins.

MicroStrategy, a software company led by Bitcoin enthusiast Michael Saylor, has disclosed a new purchase of 11,931 Bitcoin. This brings the company's total cryptocurrency holdings to a record 226,331 coins.

The latest acquisition was made at market prices, averaging around $65,000, for a total sum of $786 million, according to a statement released by MicroStrategy on Monday.

With this addition, MicroStrategy's corporate Bitcoin holdings are now valued at over $15 billion, roughly half of the company's market capitalization of $25 billion. Notably, shares of Nasdaq-listed MicroStrategy have surged this year, nearly doubling to date. Over the past five years, the stock has appreciated more than 9 times.

This remarkable performance is largely attributed to the rising valuation of Bitcoin. Over the past five years, the cryptocurrency has surged more than 400%, with its price currently hovering around $65,000 per token.

A Continuing Quest for Bitcoin

Returning to MicroStrategy, the recent acquisition comes hot on the heels of Michael Saylor's announcement that the company aims to raise $500 million through a debt sale to acquire more Bitcoin.

Saylor, known for his bullish stance on the apex crypto, has been aggressively utilizing his company's balance sheet to pick up more of the orange coin, leveraging debt to bolster the company's crypto holdings.

If we broaden our perspective, his bold and risky bet on Bitcoin has thus far paid off handsomely. MicroStrategy's entire stash of 226,331 tokens has an average acquisition cost of approximately $36,000 per coin. This means that Saylor has realized gains of around $7 billion on his initial investment, leaving an additional $8 billion in unrealized gains.