MicroStrategy, on September 20 submit with the US SEC, announced the acquisition of 7,420 BTC for $458.2 million at an average price of $61,750 per Bitcoin between September 13 and 19.
According to the SEC filing, the company used proceeds from its recent offering of senior notes, which raised $1.01 billion, to finance the purchase. MicroStrategy originally targeted $700 million in debt securities, but increased its offering to $875 million due to high demand.
The acquisition follows the company’s recent purchase of approximately 18,300 BTC for more than $1 billion, funded by the sale of more than 8 million company shares.
These acquisitions have brought the company’s total Bitcoin holdings to 252,220 BTC, purchased for a combined $9.90 billion at an average price of $39,266 per Bitcoin, including fees and expenses.
Facts from SaylorTracker indicates that MicroStrategy’s total Bitcoin holdings are currently valued at $15.84 billion, reflecting an unrealized gain of approximately $6 billion.
The Michael Saylor-led company also reported a quarterly Bitcoin return of 5.1%, with a year-to-date return of 17.8%.
Following the news, MSTR was up 0.18% at the time of writing, according to Yahoo Finance facts.
Growing interest in MicroStrategy ETFs
MicroStrategy’s continued Bitcoin acquisitions coincide with a surge in interest in the company’s exchange-traded funds (ETFs).
According to Bloomberg Intelligence ETF analyst Eric Balchunas, two recently launched leveraged MicroStrategy ETFs are among the most volatile in U.S. history and are attracting a lot of attention.
Balchunas noted that the long MicroStrategy ETF registered $2 million in volume on its first day and was on track to reach $10 million by the afternoon of September 19. He highlighted the fund’s early successes compared to typical ETF launches, noting that “only 1-2% of ETF launches see this kind of volume this early.”
Speaking about these impressive figures, Greg King, the founder of Osprey Funds, said: declared that the ETFs were “one of the most common ways to play BTC” in the current market.
Notably, this isn’t the first leveraged MicroStrategy fund. Defiance ETFs launched a 1.75x MicroStrategy ETF on August 15, which recently surpassed $200 million in assets.