MicroStrategy acquires another 21,550 bitcoin for roughly $2.1 billion
MicroStrategy acquired approximately 21,550 bitcoin for approximately $2.1 billion in cash between Dec. 2 and Dec. 8, 2024.The average purchase price was roughly $98,783 per coin.
Business intelligence firm MicroStrategy announced Monday it acquired approximately 21,550 bitcoin for approximately $2.1 billion in cash between Dec. 2 and Dec. 8, 2024. The average purchase price was roughly $98,783 per coin, including fees and expenses.
The bitcoin purchases were conducted using proceeds from the issuance and sale of company shares. Between Dec. 2 and Dec. 8, 2024, MicroStrategy sold an aggregate of 5,418,449 shares for aggregate net proceeds of approximately $2.13 billion, according to a filing with the U.S. Securities and Exchange Commission.
MicroStrategy held an approximated aggregate of 423,650 bitcoin as of Dec. 8. The aggregate purchase price of said bitcoins equates to roughly $60,324 per coin, according to the filing. The firm's bitcoin holdings cost it approximately $25.6 billion in total.
This marks the fifth straight week that MicroStrategy has made a substantial purchase of bitcoin. The price of bitcoin has appreciated about 40% during that time while MicroStrategy's stock (ticker MSTR) has risen about 20%. The stock’s 480% year-to-date surge has puzzled financial pundits while others have cheered its corporate bitcoin strategy.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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