Key Takeaways
- MicroStrategi bought 21,550 bitcoins for $2.1 billion, bringing its total fund to 423,650 BTC.
- The company raised capital by selling shares to finance its ongoing purchases of bitcoin.
MicroStrategi, the world’s largest corporate holder of bitcoin, announced on Monday that it has added 21,550 BTC worth about $2.1 billion to its portfolio. This acquisition, made between December 2nd and 8th, brings its total Bitcoin holdings to 423,650 BTC, worth approximately $42 billion at current market prices.
MicroStrategi bought 21,550 BTC for ~$2.1 billion at ~$98,783 per #bitcoin and achieved a BTC return of 43.2% KTD and 68.7% ITD. From 8.12.2024. we have 423,650 $BTC purchased for ~$25.6 billion at ~$60,324 per bitcoin. $MSTR https://t.co/8r7bFkMFof
— Michael Sailor⚡ (@sailor) December 9, 2024
The latest move also marks the company’s fifth consecutive bitcoin week purchases, tracking last week acquiring 15,400 BTC for $1.5 billion at an average price of $95,976 per coin.
According to the SEC submission announced on Monday, MicroStrategi used the proceeds from the sale of 5.4 million shares to finance the purchase of bitcoins. The company still has over $9 billion worth of shares remaining available for sale as part of a planned $42 billion capital raise over the next three year, split between a $21 billion equity offering and $21 billion in fixed income securities.
Michael Saylor, co-founder and executive chairman of the company, noted that the total stake was acquired at an average price of $60,324 per BTC, representing a total cost of approximately $25.6 billion, including fees and expenses.
The company’s bitcoin return, which measures the percentage change in bitcoins relative to diluted shares, reached 68.7% year-to-date through Dec. 9.
