{"id":82723,"date":"2024-08-01T21:39:37","date_gmt":"2024-08-01T21:39:37","guid":{"rendered":"https:\/\/neclink.com\/index.php\/2024\/08\/01\/michael-saylors-microstrategy-bought-169-bitcoin-for-11-4-million-in-july\/"},"modified":"2024-08-01T21:39:37","modified_gmt":"2024-08-01T21:39:37","slug":"michael-saylors-microstrategy-bought-169-bitcoin-for-11-4-million-in-july","status":"publish","type":"post","link":"https:\/\/neclink.com\/index.php\/2024\/08\/01\/michael-saylors-microstrategy-bought-169-bitcoin-for-11-4-million-in-july\/","title":{"rendered":"Michael Saylor&#039;s MicroStrategy Bought 169 Bitcoin For $11.4 Million In July"},"content":{"rendered":"<p> <br \/>\n<br \/><img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/.image\/c_fit%2Ch_800%2Cw_1200\/MjA4MjY4MTg1Nzg5NTM5Nzgx\/gt7asu9wuaal_fh-1.jpg\" \/><\/p>\n<p>MicroStrategy Incorporated (Nasdaq: MSTR) reported its financial results for Q2 2024, revealing an increase in its Bitcoin holdings. The company acquired 12,222 bitcoins since the beginning of the quarter, at an average price of $65,882 per bitcoin, bringing its total holdings to 226,500 BTC, purchased for $8.3 billion at an average cost of $36,821 per bitcoin, as of July 31st. In July alone, MicroStrategy acquired\u00a0an additional 169 BTC for $11.4 million, Michael Saylor announced.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">In July, <a href=\"https:\/\/twitter.com\/MicroStrategy?ref_src=twsrc%5Etfw\">@MicroStrategy<\/a> acquired an additional 169 BTC for $11.4 million and now holds 226,500 BTC. Please join us at 5pm ET as we discuss our Q2 2024 financial results, the outlook for <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a>, and our <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> development strategy. <a href=\"https:\/\/twitter.com\/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$MSTR<\/a><a href=\"https:\/\/t.co\/cfGPc42jfM\">https:\/\/t.co\/cfGPc42jfM<\/a><\/p>\n<p>&mdash; Michael Saylor\u26a1\ufe0f (@saylor) <a href=\"https:\/\/twitter.com\/saylor\/status\/1819102944744161537?ref_src=twsrc%5Etfw\">August 1, 2024<\/a><\/p><\/blockquote>\n<p>President and CEO Phong Le highlighted the company&#8217;s focus on its Bitcoin strategy, introducing &#8220;BTC Yield&#8221; as a key performance indicator. This metric measures the percentage change in the ratio of the company&#8217;s Bitcoin holdings to its assumed diluted shares outstanding. Year-to-date, MicroStrategy achieved a BTC Yield of 12.2%, targeting an annual yield of 4-8% from 2025-2027.<\/p>\n<p>In addition to its Bitcoin strategy, MicroStrategy saw a 21% year-over-year increase in subscription services revenues, totaling $24.1 million. The company also successfully raised $800 million through a convertible senior notes offering and announced a 10-for-1 stock split effective August 7, 2024.<\/p>\n<p>&#8220;Since the beginning of Q2, we grew our bitcoin holdings by adding 12,222 bitcoins through proceeds from our capital markets activities and excess cash,&#8221; said\u00a0CFO Andrew Kang. &#8220;Additionally, we announced a 10-for-1 stock split earlier this month. We continue to closely manage our equity capital, and are filing a registration statement for a new $2 billion at-the-market equity offering program. Through our use of intelligent leverage, we have again achieved a &#8216;BTC Yield&#8217; of 12.2% year-to-date, which we believe demonstrates significant bitcoin accretion to shareholders.&#8221;<\/p>\n<p>As of June 30, 2024, the original cost basis and market value of MicroStrategy\u2019s Bitcoin were $8.3 billion and $14 billion, reflecting an average cost per Bitcoin of $36,798 and a market price per Bitcoin of $61,926.69.<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/bitcoinmagazine.com\/business\/michael-saylors-microstrategy-bought-169-bitcoin-for-11-4-million-in-july\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MicroStrategy Incorporated (Nasdaq: MSTR) reported its financial results for Q2 2024, revealing an increase in its Bitcoin holdings. The company acquired 12,222 bitcoins since the<\/p>\n","protected":false},"author":1,"featured_media":82724,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[151],"tags":[],"class_list":["post-82723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/posts\/82723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/comments?post=82723"}],"version-history":[{"count":0,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/posts\/82723\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/media\/82724"}],"wp:attachment":[{"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/media?parent=82723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/categories?post=82723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/neclink.com\/index.php\/wp-json\/wp\/v2\/tags?post=82723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}