MicroStrategy bought nearly 12,000 BTC for $786 million, as disclosed in a June 20 filing with the US Securities and Exchange Commission (SEC). Following this announcement, the company's shares increased by 3% during pre-market trading, reaching $1,507 according to Google Finance data.

The purchase was funded using proceeds from a recent offering and excess cash, at an average price of approximately $65,883 per bitcoin, inclusive of fees and expenses. This acquisition brings MicroStrategy's total Bitcoin holdings to 226,631 BTC, acquired at an average cost of around $36,798 per BTC. At current market prices of $65,990, the total value of these holdings exceeds $15 billion.

Recently, the company completed an $800 million debt offering with a 2.25% coupon and a 35% conversion premium, which has facilitated over $2 billion in Bitcoin purchases this year. Despite issuing additional shares, which typically dilutes share value, CryptoSlate Insight noted that the company's Bitcoin per share value has increased, benefiting shareholders.

MicroStrategy now holds 0.013163 BTC per share, with a total of 17,194,000 shares outstanding.

Meanwhile, analysts at Bernstein have raised their Bitcoin price targets, forecasting the cryptocurrency to reach $1 million by 2033 and $200,000 by the end of 2025. They cited increasing institutional adoption, the launch of spot Bitcoin ETFs, and potential approvals at major financial institutions as factors supporting this optimistic outlook.