Nov 18th 2024

MicroStrategy, the largest publicly traded corporate holder of Bitcoin, has significantly increased its holdings, purchasing 51,780 BTC for approximately $4.6 billion. The acquisition occurred as Bitcoin’s price surged to historic levels.

Record-Breaking Purchase

Announced on November 18, the purchase was made at an average price of $88,627 per Bitcoin, reflecting MicroStrategy’s continued confidence in the cryptocurrency despite its escalating valuation. The company’s total Bitcoin holdings now stand at 331,200 BTC, acquired for a cumulative $16.5 billion at an average cost of $49,874 per BTC.

Share Sale Fuels Acquisition

MicroStrategy funded the acquisition with proceeds from a share sale finalized under a sales agreement with TD Securities on October 30. Between November 11 and 13, the company sold 13.6 million shares, raising $4.6 billion.

A recent SEC filing revealed that as of November 17, MicroStrategy still had $15.3 billion in shares available for sale under the agreement, positioning the company for potential future investments.