MicroStrategy Acquires 21,550 Bitcoin for $2.1 Billion, Increases Holdings to $42 Billion
MicroStrategy, known for its aggressive Bitcoin strategy, recently revealed its latest move in the digital asset market. Between December 2 and December 8, the company acquired 21,550 BTC, worth approximately $2.1 billion. This acquisition boosts MicroStrategy’s total Bitcoin holdings to an impressive 423,650 BTC, valued at around $42 billion based on current market prices.
This recent purchase marks the fifth consecutive week of Bitcoin buying for MicroStrategy. In the previous week, the company added 15,400 BTC to its portfolio at an average price of $95,976 per coin. To fund this latest acquisition, MicroStrategy utilized proceeds from a 5.4 million stock sale, leaving over $9 billion in shares still available for sale as part of its planned $42 billion capital raise over the next three years.
According to Michael Saylor, the company’s co-founder and executive chairman, the total BTC holdings were obtained at an average price of $60,324 per coin, totaling approximately $25.6 billion when factoring in fees and expenses. MicroStrategy’s Bitcoin Yield, a metric that measures the percentage change in Bitcoin holdings relative to diluted shares, reached an impressive 68.7% year-to-date as of December 9.
With this significant acquisition, MicroStrategy continues to solidify its position as a major player in the digital asset market. Stay tuned for more updates on this developing story.
